Jeremy. on Thank Page I will you, start X.
common The results per discussed, to for items, Jeremy outlook versus XXXX, Hilltop economic million attributable fourth quarter the equating of reflect of for a few share. recapture, million, loss $X.XX reported to positive reflects quarter. stockholders of impact improved credit income period As diluted fourth third consolidated quarter a combined notable the an credit provision including migration the which and $X.X during the $XX.X
office In that facility adjustment million to a owned exit addition, management during negative recognized to this quarter, intends and of an related sell. valuation we $X
not we this the may transaction on related are sale, closed. additional in periods. future And a making While it to adjustments Hilltop progress result, have has as
million fourth the the Further, to moving various filings items period, reduced approximately to these items equates the an X. GAAP tax items during the
I'm in tax approximately of Page quarter. tax discrete recognized Hilltop Lastly, in and after-tax state on The basis. benefits to $X XX.X%. quarter effective related by X% to tax certain rate income impact tax these
to of attributable diluted For of equating the income $XXX per full $X.XX reported share. common stockholders Hilltop consolidated million, year XXXX, to
During note. by for equated in $X by XXXX, lower later expense and to comments. for declined to the was which credit approximately the in additional provision my allowance
A year, XX%, losses the net detail address year. million items interest I'll few in full income more that offset largely
all XX X-K redeemed While notes senior outstanding that hand. that XXXX. due disclosed not were on had April January mature from on included to in we the cash on we XXXX notes These redeemed results, XX, on Form were
Hilltop It its transaction in change Moser at during provided this modified of transaction ownership be material In XX press but The after-tax transaction million. merchant January group, is Systems. to $XX is close. has to note banking between in position subject Partners, addition, estimated any principle $XX time. prior Hilltop this to important if not importantly, announced for in manner gain that this first close to is agreed quarter release in has and sell XXXX, to closed million were is on a this to that The Energy expected the our Opportunity estimate
for losses $XXX million. quarter million X. Turning allowance to Page $X.X Hilltop's during the credit decreased to by
reserves assessment to fourth Further, SX in prior continued reflecting the by to credits. than scenario in quarter, additionally individually in which probability the its risk the specific recession of score, in related benefits outlook somewhat certain ACL, periods. portfolio These of the management evaluated only a the improved were While period. leverage offset higher during client-specific macroeconomic overall the Moody's improvements lower reduced experienced ACL
net loans to for of note HFI December of forward last quarters. for ratio XX, loss roll includes Allowance charge-offs, ACL later discussed we've $XXX our credit losses which estimate trends yields presentation. best credit an ACL reflects auto XXXX. million as the address additional the total I X.XX% largely one over few the credits of in of of Lastly, this portfolio will
volatile be economic assumptions mix in it's can and ACL time, the over credit as impacted of seen as we've changes As makeup as the well by portfolio.
migration continue loan believe driven the future be net time. losses the in credit changes and over for that growth to in macroeconomic changes allowance the portfolio, We trends, outlook to credit will by
Turning accounting to to of million Page Net $X.X included fourth and quarter X. the $XXX.X income equated in interest million purchase accretion.
versus falling As interest net of points. expected, XXX to XX points basis declined the by XXXX, third basis quarter margin
that While the growth funds compression sale to a and cash began and sensitivity focus, for the costs of note, versus and of the organization. Also levels overall $X under rate growth once deposit increased deposits Federal average cash billion asset pleased income declined loans net in as declines interest for pressure The remained client excess we experienced XXXX loans federal minimizing in levels the NIM quarter did third as HFI. remains lower. overall stable NIM Reserve we moving increases reserves held in just are
X. Page to Turning
upper related interest latest to the topics In discussion into for detail our to related parallel instantaneous more we rates. analysis shocks have left NII We and NII. provide chart, sensitivity in
in approximately sensitive is noted +XXX scenario. the Hilltop the remains in As chart, X.X% asset
the have few sensitivity reduced we approximately X.X%. our XX% years, by past Over XX% to from asset
driver the currently the manage deposit XX% modeled by NII are interest-bearing forward, through of ability Going significant at performance most which our cycle. to betas, will driven be
response basis XX% rate a interest-bearing XXX points to first to it beta we Reserve's of in deposit relates deposit betas, achieved the As reductions. Federal have
time. deposit While growth. on managing beta is highlight remain to of the our that to on methodical this deposit we're levels support sensitivity in page, asset to encouraging, X% both lower we costs a over our level left a for and target move number improved and these prudent long-term X%, we In strategies the longer-term executing focused of exposure for and manner is profitability
PlainsCapital In Bank. variable the tables addition, the the at interest on schedule the page of rate right highlight loans for rate reset our
will portfolio reset the As majority XX shown, variable the within Fed. is days forth rate of any set the action rate following by
billion, the total driven quarter increased quarter remaining fourth the XX. approximately from of largely $XXX Turning On XXXX. of by with $XX ending to from third quarter clients. by deposits balance deposits an stable Fourth million growth basis, were existing Page XXXX, largely average
a ongoing pricing move an and points, average points basis As we XXX short-term the we over deposit will coming Federal the by quarter. XX interest-bearing result somewhat movement our efforts, until basis to quarter on from that the additional declined of see lower prior then costs rates. increase interest-bearing cost Currently, deposit stabilize of Reserve expect
year. the Page by $X in fourth to of income the million closed period versus in improvement $XXX increased quarter XXXX, mortgage-related to quarter noninterest and prior equated Turning XX. million. the locked both volumes XXXX the for versus by Total income of and same driven fourth fees Fourth-quarter
of our limited combination supply volumes interest continue the whereby volumes refinance prior Versus inflation, and significant higher increased rates, purchase mortgage price million. signs of in million home improvement emerging, XX%, business and challenges by macro somewhat volumes and a are by or of same to year, persist, While $XXX margins. some the the $XXX mortgage increased period the pressure housing
sold on-sale fourth gain levels third-quarter remained quarter loans stable with the XXXX, margins third relatively of parties. for During to
the During commissions. fees investment higher drove sweep the and increase third-party in quarter, and fees securities fourth
impacted structured period states volumes addition, even programs. housing market assistance support by authorities during to results quarter In while activity additional and lock supported were state continued million. note, produce Of certain declined overall activity same $XXX substantially to state strong year as lock payment funding down providing the capital to prior their overall finance margins
As finance we've both as by volatile impacted past, noted structured it's rates, production recognize interest important businesses HilltopSecurities and can liquidity in the period and market that to to income trends. overall be fixed at from they're services period
and were same Page expenses, period securities expenses included XX. compensation of the $X prior XXXX. in noninterest equated that valuation the mortgage increase the within principally earlier expenses adjustment again fourth million in other businesses. $XX and by the negative is Also in higher of Noninterest the million in Turning compensation $XXX to expense the note, referenced Driving increased to I from than variable year million. to variable quarter the
focused per related Looking and stable persist than headcount we support improving throughput $XXX across variable compensation and in the as our franchise, forward, $XXX offset inflationary to to streamlining continue expenses relatively to and quarter, expect to remain million operations the helping between ongoing improved the other million efforts ongoing market. our that productivity pressures
quarter $X.X business. activity basis, average of to the versus quarter third lending Moving Fourth On million, by period-ending our driven to modest XX. HFI $XX in loans a commercial declined billion. XXXX paydown by loans Page equated HFI
competition economy remain the for in will resilient, While that do loans remains the funded we very Texas expect intense.
Page into look moving This to average XX. and growth we expecting
I'm of are PrimeLending year X%. As mortgage XXXX, X% between full outlook we the bank retention bank's includes loans. loan
the shown to million. fourth the left net $X.X in page, the bottom quarter is As equated of the charge-offs for chart on
significant As large million. charge-off to noted finance one auto the related the to most earlier, period which in credits, the $X.X note equated of
year currently For across $XX.X large XXXX, of areas not quality basis and period-end loans. systemic the net We the or of equated believe concern. of million charge-offs full XX see do stable HFI the points remained credit any portfolio to
as higher commercial utilization closely rates estate a estate the borrowers potentially clients our and interest real lower negative real and our loans and on our monitoring in have are we However, persistence impact could of portfolio. rates
the bottom right graph at the shown ended the the on at warehouse credit bank including quarter lending. is coverage page, for the mortgage allowance at X.XX%, loss of As the
Page XX. to Moving
be the the inflation, regarding there provided of have economy. said, to market continues for health a rates, year. the in interest lot XXXX, our outlook uncertainty current As we and of move the overall into That coming we metrics
in team As our past, delivered success. the our for noted work with position we've pleased the we're has long-term to company
the we quarterly of future that back changes section our participate. the Q&A where current outlook as respond, our reflects comments, our you our of to market
Operator, we'll updates XXXX Our will the adjust calls. to outlook call. provide call the business and and turn our we prepared and the on concludes for the markets assessment Further, economy we for to