you very Chief Devaisher and Ray, sitting Barry our Nick Jim and Officer. that In much, you Sims, for thanks Treasurer Officer; Len begin will I was of Thank the our few Cantrell, our to Chief joining with with I Investment today. Gary a Credit all me Financial are the and opening Officer; call Chief President, room remarks. our
First quarter were even $X.XX in of a over say to Also good. asset for certainly would a income earning later, ROA, on talk think quarter little our we about was and note our XX% that quality we a I and growth improving. better, will we and lot maybe share. the was it little return a have a tangible that think loan all, this numbers X.XX% I equity, company. but bit Excellent in per that of quarter stabilized non-interest There little good our more bit certainly for commercial our positives
residential mortgage as refinanced as we in growth. I had did consumer said, show terms they our loan In We secondary the market. balance modest pay-downs into the sheet, of and
that. in growth was the will And annualized So, we X% the commercial neighborhood. right loan take
outlook, we will the best In word. be flattish terms quarter is probably the of first the think
project Twin has of Strongest loan to in well, the construction loan loan recently, will terms year market Cities that and is XXXX. for continues X% budget growth do quarter. the We pipeline from a occurring have improving, regions continue we calendar some starting X% steady growth there. to have growth, be and Denver strengthened the for outlook during a do the takeouts nice to Florida to are of We lines to
also the growth loan City in show We first the could and market for Iowa think year. positive quarter the
note what quarter. and there We be And MidWestOne do the also have outlook where a rural are for continue in quarter very saw bit typically has first and outflows We that deposit know We Southwest inflows. would back. to we in seasonal and rural little us they offices we lot difficult in then we as parts, will the to specifically and better hired end we well. a deposit recently of in that XXXX, the because America predict developing the deposit quarter. towards regions just new that very a pipeline moving see see during are in a specifically very, we banker It’s of Wisconsin outlook of build the a the strong
stay in least another have now, balance is some of we which place at We of round forgiveness, have also and PPP. that And we on a got for money will time. of PPP expect period sheet our
eligibility dollar growth to for it robust significant have in the ag PPP as We be as is do will enhanced very it’s first So, demand. the but around, do time know very, hard deposit volume that second for We our borrowers. was forecast the round. terms demand there not we of think
we to So little more bit a agricultural expect activity see do our customers. from
certainly this prominent the net line and certainly income aided interest was and In a interest that forgiveness I most – by the biggest quarter, that terms PPP the net income margin were we tailwind. statement income. of think In the statement, that in we think is last
continue We we That was the release note points to on one We item. adds which placed loan each roll roughly $XXX,XXX that is few on would that basis portfolio, did a charge-off interest of quarter earnings CD in a margin. that the a of a and to have core this was non-accrual.
on However, think also and release. should be that’s one-time item we a was earnings call in as it noted this the
margin, yield outlook terms I think along curve of little The steeper or helps in this in bump us the minus. the for it plus range a should bit.
the such have noted to part the it’s ours be X bank, to the company. that should fourth we for a steepen that said However, again, yield the the negative in needs quarter. margin the of experienced have to did it the inflows And greatest is one as on X-year then that curve for forth as a probably earlier, I benefit our large deposit effect
of area just one non-interest the really terms a think company I not In of for story our and income, good it’s company.
volume. Our center home $XXX of a generated year. mortgage around had million right record They
And done volume the especially would totals. added note the company. at Trust because team of before American to off, I with paid never that have mortgage these really kind our We really merger Dubuque that
rights, do servicing rates, at dependent under a And $XXX just that of of our to demand under drag but course quarter. interest portfolio be loans. and this for is pipeline strong. continues of will we on secondary we million although mortgage that’s see have $XXX amazing stay just what forward, point portfolio a good We about think would less It’s loans Going first that’s market for mortgage of from in there today million the time. direction the our servicing
loans a we LPL to rest the presents that that expand this Investment at to hire time, They Iowa, continue just reps subsidiary, to LPL record residential and in itself. a year. So, Twin It’s footprint. LPL we We hard service. and very that had Cities we people our brokerage love the is would to have rep expand if are their fit well of look to in in Denver. of able for our over $X.X into opportunity we which good culture services, in now are point estate billion produce. terms are But the our market real
year. merger a trust They would to but very, on call, had department I the fees. integration strong the But past had trust Our that’s they as in probate budget, well. hit in court said, we and they gone think have with been their not deal not very earnings did with so Dubuque did We have systems the to XXXX. shutdown, collect department Iowa, basically able
collect accomplishment. in those happy in trust The bankers XXXX. we I report the department a meet trust was two And will Cities. to all XXXX. despite significant the emphasis to the trust established think for growth of bankers, to But expect Twin am was and they We are which organic hired be we able that, department in that budget, on bankers have
us which couple expect They potential more number significant We for between have depending about next significant over very one days, the on we is Studies. out revenue talking next we calls. XX customer a years impression have hire they roll of the XX with XX in days. to are there have Twin already made that and in growth one and great had been we a that as we And think of do the
the a terms And quarter that was us contract renegotiate core that we now savings of vendor contract. our expenses. We life negotiate We expenses, the that a vendor the with quarter third-party will we didn’t of provider. to way and realize the works In upfront messy help in recorded it used paid the for was is the contract. the over
basically this the hedge cut we to put terminated hedge, zero. as we which the on just cash flow the back before look also We the and pandemic Fed started before just race
So one-time and think there that quarter down to quarter. will another but items. to non-interest the run-rate $XXX,XXX I expense few do in back experiencing terminated which Barry should – be and – charge available we smaller contract, were were specific come before was get there was other a we hopefully that were answer one that the questions, fourth an the then
In to did reserves. of points total ex-PPP, release here is a We the of the have charge-offs quarter, during Again, loans have annualized ex-PPP positive. for still XX feel had I up the X.XX%. loan basis hotel loan is were think generally story which the quality, terms points slightly good of did reserve we’ve loss X a as number And asset $X.X of We disclose non-accrual net again, a we of non-accrual. best about million NPAs numbers up in that very The think performance one that. our years, year, on the put earnings in I slightly. we release, basis pushed
took of cleanup lot a resolution during that in portfolio mask and was the the did year. legacy place that what However,
to that to think reserves. noted look NPAs back actually, which good it’s released about. on as and XX/XX/XX, us for slightly, feel into very ride loss bumpy that If down new with deal we and were expect I regulation the topic. actually And this future particular our a XXXX to created learned We fair the guidance did say new continue we CECL as in to we very, credit you the
importantly, most our credit generally positive. is outlook on think I
We continue mindful our portfolio. hotel be to of
our we anticipate credit. very dollar this outlook And best that reserved prices, we soybean prices particular is rural high. thing to fully since the the with strong say had loss are. think year large the probably benefit loan, crop strong, for as other a XXXX, farmers that In good of they we $X.X is and XXXX. sector, what’s are There million would a terms for note, don’t ag Also on and as their corn of economies when note
some most positive soybean industry than as time. their that not and been rural for for indirect but outlook of do is who effect as positive. dairy Southwest there corn period customers on we in our think Wisconsin, and better America. loans So the is some of an positive We as It’s have dairy it’s in reside growers, is quite
portfolio. So outlook of for year terms ag our in good this we’ve forecast a
be the represent we to XX/XX. we shares the In would would of terms each our back represented percentage X.XX% release, share increase think January we position, typically we PPP of our and the we we it but We of and book value. And value out fine We as did good common of do continued of dividend, the continues $XX.XX during XX,XXX which when everyone per with our earnings reward remind it’s an to shareholders in to then increased repurchase quarter. in annual tangible capital the equity are equation. think where stock are own tangible
Q&A, and unprecedented it So the an in go myself year. to I XXXX, summary, how we I thinking describe just would was you before was think to
share took to $XX.X compared earnings income net XXXX – per made we roughly our QX, on year basis charge added XX our X.XX% communities loss in And and of income in our million in we XXXX core served an to XXXX. I look a agree during tallied million well. operating would would $X.XX had ago that loans $X.XX impairment our at and in I I X.XX% we share hasten of would I about credit in $XX.X loan million reserve per our loss think employees exclude at results strengthened final from And to end add with when versus served safe we we talked we $XX earnings, goodwill core customers our the company and the we as year And of about and kept add we the XXXX. that. to the ex-PPP would all our very which up and reserve
you turn sit like that would And out XXXX. are the lie do So for any it ready with back We challenges in. to ahead. might we we position forward And we there. overall, Nick, to Q&A we that think be the I for that, look
