Ken. Thanks,
generated $XXX Alliance interest $XXX from during pre-provision income Western quarter million, EPS in $XX higher-cost increased favorable well net to million. $XXX quarter, million net Net the $X.XX million the assets borrowings. of revenue income reduction a of repricing of and For earning as as of
$XX million such basis of million lot $X $X.X by quarter-over-quarter banking $XXX and and to increased rising compressed X% to pretax fell million, declining word value with margins points. which impacted million fair as AmeriHome included income production slightly as mortgage moderately to yields XX volume Noninterest treasury approximately items revenue was million rates adjustment. nonrecurring $XX of
growth quality expenses. deposit customers the and driven our due to share returning and new ]. concentrated asset by software loan expense depreciation primarily and stable to higher licensing was in from previous low-loss categories. deposit clients grant costs was Provision growth $XX gains $XXX cost expense demonstrated funds Noninterest Deposit million and of [ million
provision XX% the an implies Our [ weighting of Moody's into forecast scenarios, of given the probability which conservative consensus modeling adverse ] barely in aggregate, remains recession.
Lastly, because in rate discrete our tax items nondeductible quarter. rose the of
made investment growth borrowings cash to we more Cash Overall, progress elected to remixing billion increasing organic growth between billion and $X.X cash XX% balance and sheet of and in back quarter-over-quarter, adding loans capital back higher liquidity up fall lower. investments to $X.X from equivalents going rate mostly wholesale has liquid also share assets. tax held-for-sale Deposit last our balance quarter. for our our XX% alone held loan and billion, expect With pushed as substantial strong with sheet XX% reclassify slowed. high-quality in We forward. levels, to $X.X totaled from gains non-AmeriHome deposit we
and loans entirely low rose GSEs loans bank The transferred transfer weeks, which generating AmeriHome billion. of X from held risk average sale $X.X have for of to the served believe for short remaining for only These forward. to including about duration consists the are residential billion credit are loans income loans for sold better $X.X an $XX.X inventory assets duration, held of we going to be sale, billion interest held investment
stood the servicing Mortgage part increased at at billion to As end. Ken $X.X XX. to in on September and billion $X.X rights quarter due mentioned, deposits environment rate increased billion $XX higher
declined of Bank primarily repayment equity Federal $XXX average quarter $X March $X.X and for borrowings Loan private to by Total billion the nearly this billion but lines earlier year. from Home declined end, million at borrowings obtained quarter-over-quarter, borrowings
investment with $XXX corporate mostly reclassified grew for MSR financing contributions C&I growth and for derived our loans held-for-sale land million, smaller of status. finance, warehouse, centered loans banking. from banking construction mortgage primarily held loan from $XXX and around million, Organic and from lot regional HFI
also deposits still backdrop growth. from environment. Given over Total billion an Core million. view was resulted elevated growth growth billion undersupply primarily Warehouse of we $XXX noninterest-bearing product of savings of and led growth DDA in core the billion despite national for reflects favorably macro increase $X.X this Mortgage rate the the homes, deposit fueled $X.X deposit $X.X by and a broker and market reduction in money in in wholesale by deposits
credits. total $X funds approximately made of semiannual down Noninterest-bearing XX% and deposits cash insurance and pull over earnings mortgage this has DDA which surpassed X/X no comprised our deposit billion, will though escrow quarter. tax this deposits, have payment are Quarter-to-date, growth of as seasonality of warehouse payments
expanded balance maturing led in yielding The sheet. as also basis lower down HQLA rate repricing securities funding a assets, to structure Turning yield X.XX%. growing in now to liability $XX.X borrowings [ in yield drivers. pay XXXX. to ] with mortgage of on optimization cost short-term year-end, environment a the X.XX%, investments points portfolio liability billion increased the prioritize $X.X mature X.XX% another yielded -- of expected $X to adding by and debt the we XX to funding. $X total earning are billion deposits higher to interest Favorable securities on grew to billion by billion The
HFI we the from spot of quarter billion Total asset increased maturities expected expect with to to benefit per prolonged first X points Similarly, average favorable of pricing quarter X.XX%. tailwinds. a environment, basis rate quarters a convertible $X.X to In higher rate loans fixed XX for loan XXXX. X.XX% are end
to rightsize deposits. strategy market the cost interest-bearing funding increase and in money structure Our accounts the a basis of through increased in savings point XX resulted liability
a of in quarter. basis billion of overall which average to borrowings Importantly, X this $X.X reduction XX% point enables a interest-bearing to liabilities, third the the in in resulted reduction interest-bearing X.X% in short-term liabilities cost
interest interest margin interest expanded net grew cycle a to earnings second Net income modest noted as believe points the As a quarter. on trough contraction the and XX we despite in X% net our quarter-over-quarter and call, nearly last reached margin assets in income basis earning average X.XX%.
our Considering sensitive. the changes, of rate asset modestly rate impact risk future profile is
interest rate Our minus a plus income is static sheet XXX analysis similar points increase X% lift on a net a indicates to and expected shock. XXX approximately basis point basis amount balance shock on
balance from point sheet in a rate declines However, considering risk, we in negative project on a is shock deposit more static at of costs. review of a earnings inclusive interest basis ECR-related XXX risk estimated comprehensive which X.X% increase a
in balance sheet as lower refinancing margin asset-sensitive Banking Mortgage a from absorber sale rate our gain increased a expansion. activity on Additionally, environment, and acts to shock
ratio efficiency of in quarter. of ECRs average the the warehouse in fell ECRs, XX $XX higher XX% efficiency basis our as through QX points was balances points basis impact XX.X% Our increased mortgage billion third than XXX ratio, to excluding adjusted with $X.X to billion
of seasonal mid- as normal of resulted and risk management our initiatives right investments the Lower costs. still framework. level upper ratio a We ongoing and data fund business of software XX% processing indicative expense factors compensation evolution efficiency higher mitigated and the from medium-term licensing to to new view
was net Pre-provision the quarter. for million $XXX revenue
was of as sheet. tangible of Solid a XX.X% with capital larger profitability QX on our on our QX modestly stable level average return level was average Return assets time. common below maintained a X.XX% equity on in balance
been mitigation credit in environment. normalizing proactive credit Our thus effective strategy has far
stable million. and aggregate in million XX classified points of loans to the million or was to increase net assets mention total only assets assets. nonperforming $XXX in Asset was $X quality as basis $XX special Notably, declined QX
due with in led X were of to even or to charge-offs a Quarterly, loan X points to $X million stable or quality expense basis average the asset environment. in $X.X credit quarter a categories to compared in low net loans normalizing no million points conjunction smaller in second loss growth basis provision
mortgage funded from the occurred increased ACL HFI to prominently growth as in in total entirely prior $XXX almost million warehouse. quarter X $X categories, Our near both loss million
by even a notes, covered any As our linked to portfolio credit X be incurred after repaying of was protected still third a with loan party. losses XX% reminder,
loans XXX% view The appropriate, as categories. ACL credit points, but We loan notes ticked loss of XX XX considering our protection loss did when loans X basis points the basis portion low by nonperforming points basis of and increase down especially first funded credit-linked loan covered to from to total loans. allowance to material
concentrated loss products. of no loan portion to low sizable a Additionally, our in has growth been
secured and is are risk half portfolio either Our loan protected, to X/X resistant volatility. guaranteed of across cash the portfolio over or that insured diversified economic with almost or either credit government is segments
for adjusted rates If ACL loans. of to these rises factors, X.XX% our
[indiscernible] ratio Our strong organic XX.X% for lifted unrealized tax-affected capital marks. CETX and of growth adjusted AOCI X.X% when held-to-maturity the securities the
tangible curtailed capital growth X.X% while total balance AOCI basis Our XX points to common decreased assets approximately our sheet as from the QX modestly, to expanded mark. equity was by higher
Given resulted reached the to rise increase use headwinds, the the Inclusive cash industry-wide share basis equity tangible quarter-over-quarter common quarter of during of payment AOCI point in rates. in quarter, per for the per The setting $X.XX rising our treasury outpacing tangible book dividend million. $XX.XX. XX AOCI share, X-year our earnings value our $XXX $X.XX from quarterly increased by
Ken. I'll now to turn back the call
