Thank you. Good morning.
proven our you, that hope and first your and growth sound. quarter participation your demonstrate Our We model that your find colleagues results is again appreciate you strategy. believe this and families are Capital’s TriState will safe morning once and
The different of highly has position business perfected This the during on consistent over targeted focus good and We years are current in our agile performance our delivered clients model differentiated last entering the nature been across has markets unwavering in bad. environments. ever. with sophisticated environment XX strongest times
quarter balance the at single year, year after profitable the and XXXX. Capital sheet in Recession, fourth Founded statement in of beginning has of every been since quarter the TriState Great income growing the XXXX
billion lines business during balance strong, surpassed the billion just pushing responsible ago, well-established The surpassed organic balance healthy $X billion, purely of months first on six liquid. of is assets, we and $X is and our sheet quarter, $X sheet having growth. The through all
Superior the attractive along clients, credit as giving profile, of with products, product of the team as are credit in intentional and experienced segments very risk that market any a a disciplined metrics business. and you’ll find a is selection
level XX% Our during record by of in grow the over to The billion] balances balance funding diversified sheet on funding produced mechanism annualized enabled first platform [$X.X relationship-driven liquidity. us the deposit quarter.
interest of by target to the response floating fed month’s The balance rate our flexible, loans the all deposits, funds in cuts more last the nearly re-pricing XX% and put also sheet on in illustrated for both is than the rate of rate. the floors
market our middle that Our delivered. business growth. the was time, investment business national positive income designed our stable inflows. with management provide client and fees operating helped income March Chartwell record offsetting investment first national revenue balance the and volatility growth net to example, margin swap At net diverse dampened XX% private for on regional interest XX% us net banking interest loan annualized same Again, management streams In annualized by they organic market was quarter across are to unit, environments. asset
the a income service financial that record line generated Pre-tax these quarterly annualized. with annualized. growing XX% XX% display Together, exceptional grew first three businesses some quarter for organically the in top by revenue, All companies.
it’s built this of Capital, is deliver. TriState to what representative For company
for we’ve able the historic remote our of we’ve client as in employees consistent Through performance experience years, exceptional combined This most we clients help infrastructure invested challenges first the and through move to efforts, environments. their our digital been even with the quarter. working to comes in system’s scalable
to face to in not In This its implemented understood the last face and sales accordingly. Capital’s this recent has in been needs base, and by I believe proactive weeks, client-facing in their a were accident. with TriState than company closer as client clients is that Even clients professionals meeting March, concerns never XX address with plan we and ensure them we days. our to entire limited communicate
quality that a is differentiator long for now. important Asset than right has never TriState been more been And Capital. has it
$XXX,XXX No or the points credits adverse last credits customers made not basis NPLs or up company loan serve on credits on less rated end totaled total year. million a adverse essentially loans moved just rated March Our residential quarter from mortgage Adverse does the XX portfolio. rated retail billion traditional were and end category. banking of at market Non-performing loans. additional of $X XX just loans. of were than to consumer unchanged $XX
treatment Private banking are XX% requirements. basis subject quarter capital monitored through at represented of our These collateralized loans marketable loans proprietary end, total under are by and regulatory favorable on primarily are daily a over and liquid, collateralized to securities. technology,
during $X Commercial was XX% billion, Roughly utilization the basis of estate of attributed is commercial quarter. on loans banking fourth to increasing the quarter. The $X.X credit of record third a industrial annualized $XX C&I in our less than real lines. approaching totaled during growth for Commercial the XX% a revolving and net increase portfolio million an and billion, were quarter, quarter. $X.X annualized the billion first XX% private annualized grew loans had increased
Through advisors of our with provider non-purpose requirements with is margin officers premier we about portfolios managed We banking business, grown so strong Capital periods nation’s marketed trust should borrowers. high-quality historic As TriState volatility. loans very know they extensive that through as intermediaries. loan in we of investment and the of engagement we’ve our thousands doing and private financial portfolio, had are
this fulfilled loans, our we As cure activity X% limited bank or an Year-to-date orderly XXX through was accounts. and of required fashion. private was result, approximately required a in XX, maintenance secured April
we like quarter to had X% We liquidation cure force March Compare nothing happy that volatility to this accounts we but still have clients for fourth when XXXX. of on not XXXX, of high, the of meet the to the were obligations. accounts cures when any required report to of was
few keep points than we given about loan the The ratio loans, a since has collateral the value For across XX%, portfolio. beyond important inception. the maintained cushion And the cure portfolio a TriState $XXX,XXX. less mind banking Capital’s to average data private was approximately was median The private size maintain loan level. banking to in it’s maintenance history the zero-loss portfolio
and banking X,XXX applications XX% demand loan XXX look of increase quarter processed the generated team advisors first of XXXX, To give them for investment quarter at from net-worth for In the the when an trust you high we officers the and of clients, we a our with through, market offering applications. applications. this our private first new record sense XXXX
in developing applications. loan allowed loan that we In we processed March environment. our Capital made and had of easily applications, the platform from benefiting we’ve TriState April, XXX the days has private in financial XX digital to first investments alone, in the XXX clients with their banking And current intermediaries past engage
understand commercial We well. of saw of an market COVID-XX footprint, the impact who incredibly side, serving quarantine to clients very middle develop. clients began February, have the company, our in we On strong know market to early we the across and situation. our Beginning aspects team outreach the efforts this starting client our four-state
responsive finance, We and operations credit, action we also committee comprised develop strategy compliance organized of could so plans. a credit leaders legal, that from
every our the borrowers additional expectations need help their their have future We this situation. them any talking commercial solutions of and been about with for experiences, one to through for
with have average half years been with to each lender is for professionals of of experience. each Capital and team qualified make About close years. clients conversations who deep meaningful. Our relationships highly are XX of made these over our five up and maintain of TriState able They
XXX where was connection commercial needed with April total conversations to our million customized and representing develop developed effort totaling $XXX less loans, X% deferral approximately solutions XX, arrangements focused we $X clients, something this billion In help From we fewer than these with have of loans. of through with our them. than
investments years. help with storm, which decade. succeed us for with these designed the seas them high-quality of back have with back investments than come for some are to them another in organizations, as when investments, view the get enable work to We weather These XX and banked relationships to us and more arrangements
by well Our relationships. and is the sponsors million assisted our by also commercial hold and enhanced This $XX projects for portfolio, property industry and diversity by type diversified preferred to of strong is clients level granularity which are in loan. commercial the
real or land, and C&I majority estate multi-family XX% commercial portfolio, is about of financial The XX% our our projects. of category is in XX% or billion our construction Within including is estate, insurance, C&I largest owner-occupied projects, XX% is real lending services apartment comprising in $X.X and loans. lending another income-producing
for across real property variety industries. is services, X% and service, remediation, in is is administration other as and service XX% and management, a portfolio healthcare, managers, Another waste XX% remainder industries. the such including XX% is spread manufacturing transportation, of and estate-related
Importantly, we impacted front exposure that distancing have types most to COVID-XX, our some of quarantines. immediately limited of by and line be may business social the
portfolio restaurant nonrenewable of For estate, $XX support to hotels, with related $XX million sponsor million and with and each retail underwritten real only strong we energy $XX billion of loan and production, operations, other housing distribution commercial senior projects recourse. includes $XXX million $X example, to to which our to $XX have and million and about million healthcare-related component
has within across continue deep our broadly verticals with and and commercial our four-state approach strategies experience these time, and relationships. disciplined our distributed loans strategies. on And credit our aligned At commercial have maintained team deposit commercial Atlantic our have region, to keep we be Further, worked our and opportunities same the of treasury to markets. management we verticals where focusing lending
to meaning capital and TriState We very amount business be under strong we efficient of in quality our billion requirements. banks. provides especially credit less our of and our of $X regulatory believe income, a Chartwell the cushion requires portfolio than well other more credit and asset capital capitalized Capital capital of ratios to context continues the quality, the model business, review $XX billion that from non-interest use that
with capital at opportunities support and exceptional our our growth, exploring fixed maintain company, to While income ongoing at bank the and excess bolster the levels holding capital loan level we’re liquidity. we are comfortable to
considering a to debt, on offering as one subordinated these as this both and year. senior intend perpetual previously execute notes we’ve preferred or which are well We of options of executed
CECL this of defer implementation release, TriState under delaying conducted at choice in time, for As we the the Act. provided noted accordance yesterday’s relief this and right in CARES determined to analysis a with thorough elected was company. Capital that the We news
credit we points Continued incurred application total resulted basis of reported nearly for we implemented levels million commercial marketable banking reserve XX% $XX.X loss securities backed XX collateralized by loss identical unique have loan our not levels what to CECL. is or CECL in of loans. which under are by These portfolio, had Capital’s method primarily the quarter. would require will private TriState loans, of the reserve a in
As I prevailing our comments, our in were are mentioned March, of rate total balance by flexible rates interest are our and rate or the of XX% earlier in construction to all federal reserve sheet, floating risk with at at management nearly rate floors in discretion. of Active in our my than by most place loans. more of linked re-priced bank aligned indices of deliberate the priced rates is enabled variable our set deposits deposits
LIBOR. loans, For indexed to day on floating are primarily XX% rate XX
Turning quarter XX% of income our the $X.X generated comprising Chartwell fees investment to first during million, management of business, XXXX. of non-interest
million and during existing $XX and outflows inflows by market accounts the we reported net business quarter. depreciation, new flows new were from first of offset While
of excess pipeline, commitments to million its in the expect end most new has second Chartwell in before of Today, which business the we fund of quarter. $XXX in institutional
with improved reduced we had year, year, in last you to January, rate it million active periods, lowered lower both of measures fourth of year-ago by took quarter its also versus of the the versus in the than expenses first As EBITDA By first linked last expenses. $X end annual the quarter in accordingly, run expense Chartwell and XXXX the XXXX. Chartwell and quarter shared more its and
ability their credible unique outstanding performance, investment highly leading distribution attract funds capability, people our managers’ its the in confidence offerings product and to have its talented business. and We
to profitably this operating and accelerating is goal progress the improve. markets when business economy grow financial environments, Our this across broader
performance fully. business TriState It’s was are our believe underscores the market. of company’s quarter first proven our Capital’s leadership shares designed approach. dramatically stands operating all model model in thrive the behind to that current in environments. We that even a strength resilient TSC undervalued And our
of in shares months and first directors in than executives with stock of Accordingly, acquired XXX,XXX XXXX, the more XX% March. those TriState of shares Capital three purchased
We and have sheet, pipelines balance loan, income new and deposit our investment a offerings. solid ever-growing for management business statement robust
years strength recent our and value help order innovative the challenges over more lead well clients in position of months steps make us the from through strategic long efficient, The a taken shareholders and to continue to nimble, we’ve to delivering of XXXX this to company our in position term.
up Before walk where call who emphasize people would have we through I we joined want the without this today we that are Capital before Q&A, to across our we are Tristate not open ever and talented Chartwell Individuals they organization. to the doors. successful be
the resources never to We entire team need provide and clients have environment, XX me. that could prouder the not flourish. days, apparent entrepreneurial commitment more been In culture simply team I their I our and of abilities today. the them be to to the the they have last
ask me That Dave to Q&A. I’ll please join lines. open Operator, concludes my morning. the prepared for remarks now this
