and Thank much, you very have you who joined call Eiley, thank morning. to this all our
stated have with We us. also will and we this open undertake impairment know, capital And of expense And discussion impact on million. we add very just will our to about all significant. our the charge impairment goodwill no behind a cash brief in or noncash that earnings that’s time I has to as the regulatory are And liquidity. a $XX.X good the measure flows release, and goodwill the as
the a like and Briefly think, the Earnings share quarter talk to we basis return credit as was Very, of I deposit points, with in moments. sheet. that that And our low referenced system was believe. which We million the the I the credit $XX we ex a too, reserve, there second were basis of efficiency points. there’s the that might NPAs, line Florida and has loans pleased continued line nonperforming company, equity Iowa. have the paydowns more that’s adjustment on quarter other right their down in decline of consistent felt little and XX.X%, XXX big now to I if bit it our our at to our about build we Southwest XXXX. and metrics. continue continue very cities the offices to is add of as down our Turning in assets, pretty balance And release. liquidity our twin companies, are markets. Obviously, is their will our maintain in no really in during It’s inflows And earnings see a million tangible a of lot influenced in quarter. decent PPP And seen offices few a picture, and Denver of And stable, usage usage. loss ratio pipelines. on in were which $X.XX, XX.X% to loans are quiet decline doubt that six you this been look $X solid in those quarter. we quarter. the goodwill per We’ve consistent the Around with build
way. a little loan a quarter, during expect of the quarter to would seeing gets growth the are robust, As that bit a we continue, our certainly fourth a boost under in we’ve little we’re month that the fourth not October, we but seen bit we look of encouraged little as loan of totals and
to have low some rates. reduce balance the are of the net hurt good still most that the range. fall. margin, hurt for policy does And zero really credits. sheet in our say competition mid-X% clearly, interest down interest us, high-quality to our we selectively to There’s room new would deals of to terms see on continue the And In done getting continuing do that getting are rates we I loan We liability industry. rate
do little things most ended. have book much terms think lifting companies. able And since quarter larger do of has to happened, been than already decline we heavy I a but of few the in we’ve a the CD
maturities. cost note rather It’s our other the non-maturity CDs see CDS. of those that renewing into moderate than of will many of by accounts we interesting as CDs in to declines in mature, are virtue So the funds rolling
good story, income, for noninterest MidWestOne. of terms I In think, pretty
a mortgage that quarter. for We pipeline is has But quarter have is $XXX,XXX Our unit, with may mortgage encouraging the little did rights also right that mortgage. now quarter we MSR for should is an compare XXXX. the our loan down $X.X adjustment, of servicing the $XXX,XXX again, still during in been adjustment, that contributor revenues quarter. million second robust fourth in very quarter fourth December. visibility during a slow at have a the It good to And mortgage be quarter the the bit huge
to – represents which services, just have of year. continue out it a Our record our brokers this for the LPL is hit investment hit year. They park
trust terms of plan our control, our make slightly coming Department. But expense through are be Department, able revenues should plan. our behind to operating we in Trust just Trust in In our our good
that states that headwinds the aren’t the courts. probate out our Trust that lot a of of getting One are is due there pandemic Department of faces to
to gotten acknowledge merger we’ve those areas, mortgage that fees as may getting we’ve the little at very, growth very very, much both the in part very we’ll former fact in worked and has well get the really significantly for pointed been I of company. really states, has revenue those that It our Trust have of of And fees. not talk But talk I about we’re in estate the So XXXX. Trust, way contributed maintain able our about the and I’d Bancorp to on and eventually. in be core despite
the revenue. on to had rebound card our we Finally, on sure income, I’m in but rebound. nice card we see nice very that, quarter not noninterest revenue third it’s a anticipated
expenses, would efficiency. good expense say very control terms of I In
terms improve our ways number won’t we take efficiency. areas some in at of attrition, continue those XXXX, we until all earlier, also through a contracts quietly would company we’ve our effect that can NIM renegotiated and XX.X% also able And the vendor staff And I note evaluate said very despite while attrition. reduce during of of not XXXX, that I but contraction. layoffs As to been to of our through we’ve through
of as ex As I calls basis our And I XX We I other XXX points. credit points would stable what we’ve basis basis before, think asset pretty move heard quarter which consistent PPP Net said say as XXX analyst to is companies. ended about I listened provision, read for the is allowance losses prior outlook as the loans. there. quarter earnings that points, with of better NPAs, about I from on particular reports, to is with our other this the charge-offs right quality, quarters. to is the much same we’ve think and description
back if to expected months we be compared were and what be go to today ago. six we expected – months I think we we six where we to would where
seems ledger to evaluated in I adequate and think think reserves But of as pretty we’ve of what really our most pleasantly side I shape. we’re to lean tried mean. we conservative be also the portfolio good toward surprised the
into company. here area So this today, is overwhelming our we’ve to with continued particular the for performing on I of our think pretty as being majority the well, portfolio we concern lean wind of hospitality, sit the one currently hotels, item. And especially
And period deferral million did and of deferral. ex million a X% at that Our down $XX quarter. out as $XX PPP. loans, not of first second still today, take the had we third X.X% the in the we’re of another first deferrals end deferral is of to And we’re the
So, I deck ask to earnings with more the to we that to put information. down. continue would release And we numbers you our those for refer work attached
In terms we have story this I of quarter. agricultural ag, loans, think good a pretty
a some higher; crop year it’s government that: shape significant significantly is of it’s been had dairy, XXXX had year. winds in think good I for the which of good growers. a thing as and lot help in stimulus payments footprint that last good is the in ag both Dairy which growers; pretty a our there as four you good those crops terms few the of that buying Iowa and Wisconsin. have the be And would and finally, the been pretty have in Dera in soybean destruction, probably in uncertain came years. have into soybean for China at up Southwest we knocked the this a a our crops. for And years. then say year to and several that for more year will really down all up, farmers ag least things our footprint. it’s are soybeans corn of a good for fourth and do sector; Iowa, would four made prices, I but and good year I little of is corn ag Iowa, in is high think shaping add for in insurance there crop contribute a of a XXXX. be – more especially exposure of in in our that a has This lot Dairy, dairy state is the the to overall, moved some outlook best will year be year does Perhaps Show, XXXX through things corn for
land our of I prices. during – say were get tended third last be And prices land questions stable they during the to portfolio, terms what about In months. about in substandard three be they have ag marginally the would quarter. to loans always down is tend relatively We
the whole about way, based we our see in So think we And in of comes right I able entire whatever our handle we’re what today okay be include portfolio, loan to to up difficulties which does our summary, ongoing set now terms in portfolio, we loan think sector. feel ag on portfolio. hospitality our
position dividend. core our talking about I goodwill by our earnings ex would would capital our our covered nicely up Finally, note wrap that earnings,
you Our goal of well from as of in has for tangible at long many equity MidWestOne our to it’s tangible X% years, been prior time our adjust in the the followers And excess but common X% for stable many of X.XX%, PPP know X% common the is range. quarter that if – equity on loans.
we’re like okay we there. feel So,
will All of an repurchase ratios levels that or And believe very, reinstate stock. these did sufficient we excellent its our note share very regulatory time. this our to of MidWestOne you value common also is And at do in we capital be that at terms program. appear
our so I Officer, Bacher, Treasurer have Barry Cantrell, President; And neglected Ray, we Lynn introduce me, have room and de room. with Credit in and Chief our to Chief the Officer the – Chief that, Officer; Jim our in with the persons Gary Sims, our I Investment Financial
I send it to to Eiley. take time, questions your this happy will We’re you, at and back
