Jamie. you, morning. Thank Good
direction. today a I will our and be bit strategic suggested, to Jamie As about deposits, about talking you lending,
the to with much we there lending lower a we've the X should to market still volatility year, quarter interest Last rates than rise, we originated While in quarters, be seen is started fixed-rate than more previous done. in when have. sector
and margin-based continue is plus C&I goal index prioritize to reduce pricing relationships. Our to into in that diversify conservatively underwritten exposure we where focused lending,
We have and great to this make continue goal. towards strides end
XX% which of residence have commercial the X% real QX diverse manage single-family height of our as to strategic and consumer portfolio, September down All challenged X% commercial X% the XX% perspective, approximately of have lending approximately XXXX, to we evolve from worked our operational XXXX, of nonowner-occupied of compared XXXX, loan XX, of multifamily estate, departments business of and to of loans, remains XX% land construction our and its an of loans. as as together XX% climate. composed loans, to loans QX departments approximately From and adapt current direction
high-quality, supports to both to eyes health, fundings of cautious our was XX% lending our all quality. loan on million pivoted originations, of payoffs the adjustable by maintaining rate have of We a what and clients Jamie asset and lending loan primarily totaled the offset The yields $XXX C&I space. of SBA, C&I, focus in on mortgage proactive million, Loan which the approach with quarterly quarter. in referenced $XXX growing comprised result were yet operational
to and variable have to and estate down greater lending. is rate drive our fixed exposure goal between continue a Our commercial balance real
net all can I our First relationships. of at more of approach out maintaining credit the under margin protectionary are management a lines On credit our products on rate be relationship-based deepen have term, like existing a increasing exposure overall low-risk portfolio. naturally we low adjustable our more increase of our will basis, on our but bank, portfolios to underlying to the Foundation while clients need high assets near we Offering the Over with stickier highlight and we reserves and multifamily rather Advisors. interest From platform are fixed partners profile. pricing that help on of portfolio, leverage this and cautious a perspective, synergies CECL assets. as transactions, We a robust with additional with in more balanced long-term will taking will diversified lending borne rate a from worth a philosophical reserve. bank's blunt relationships not providing focus want do Ultimately, portfolio gradually a be the
that management, underwriting high in risk risk Regarding credit our measure, our how credit our maintaining achievement but teams a It have reflection a talent reallocate organic asset quality. internal from with the have to culture us organizational we we been shows is understand review to and resonate standards able guided solely always that referral originating deeply principles an strength. network. why not not of do loans with sacrifice cross is discipline portfolio internal assisting in management, and quality This
at so miscellaneous other commercial business commercial year-to-date, single portfolio only It no Looking is comprising of family, sector far X%, reiterate originated breakdown of portfolio follows: at and the worthwhile are percentages real to have commercial and X%. the the the loans loans X% XX%, diversified XX% multifamily, loans, we of always X/X as than the portfolio is that to with estate. exposed business more approximately
in the lack in class. suggest temper of multifamily a decision not should the fixed-rate confidence asset lending, especially Our segment, to
XX. a is demand. hit In new affordability fact, cannot disconnected rent XX% housing at no housing affordability low The the wages in the ignored. This housing XX The one since XXXX. a home means quarter found. a are crash. looked Affordability approximately where is crisis apartment average of housing XXXX since Housing the cost CBRE California, States since There happens workforce was least States record which least California, before mortgage in XXXX. affordable are ever, its affordability just to housing than is analysis. markets United in of time There that down measure now the Index of housing XXXX, to The located. be of peaked also the more the new renting the Even is average nearly loans in of extreme at a United at multifamily down housing And peak where affordability is second XXXX is worse monthly versus The than higher premium most is buying approximately XX% alone. payment the XX%. XX% is where our in state, rent-controlled last then, this to state the according be X XX% than
a limited of made apartment more exposure be to has As years and to built bank units. Sunbelt limited newly to a luxury financing having the exposure region high-end strategic properties, the even ago reminder, decision cautious
shift Newly vision agility, control portfolio risk and our built properties refined, impacted in typically generally than less and a only credit a shows rent team like California. have This by collective, with also to simple contributing downside unity states every member strong more adjustment. are illustrates It shared culture.
evident XX portfolio, multifamily its low as of its the strength its in for our Regarding and earlier. by third ratio quarter both NPA Scott metrics highlighted basis is credit quality points
underwriting remains come LTVs average for XX% loans of weighted and you our for XX% loans. expect, single-family As to staunchly conservative multifamily have with
of of below seeing we of years, underlying the would Additionally, repositioning the only the downward diversifying continue which its continue assets. X just average the further to to move support portfolio are duration efforts
insured particularly on and adjustments, in with funding our clients' fostered been mirrors over our proven collateralized the have rate deeper The deposits, have we of term, trust. our strategic Liquidity distinguishing a and do near in combined growth, term, us operations, funding Our personal need has strategic we clients, deposit relationship with that. course drive vision. back core longer will a to focus a up, marketplace. lending while bifurcated we and our touch, stance Like the high-level the
stabilized, to the particularly This drive tellers franchise. overdependence that our bolstering us will funding broker the company's the grow have to Foundation growth we deposit to pivoting to highlight important where look loan time home entire and are First over any the to deposits From a Advisors is funding. noninterest-bearing is strength is XX%, person it appears to down in-branch deposits, deposits aggressively market commitment team, our the to interest-bearing do. of bank's on It XX%, allow demand our this we phone advances. that demand the when campaign from of XX%. we deposits champion of branch, follows: as Trust Now family core bank platform savings, answers XX%. money call can The and and the what that collaborate digital you deposits, of to Certificates everyone's breakdown job
overhauled Our deposits up portfolio of deposits, for California our XX%, grow diversified the funding total. risk XX% by with increase are fraud rate implementation with digital and of applications Nevada, XX, the from also Texas XX% XX%, Plaid XX%, mitigation completed online opening XX% seen real-time majority of XX% been to that latest drop process August branches and approval making geographic with from at account Hawaii for to Since total Florida accounting completely other its we opening deposit technology incorporate distribution instant makes from to states to seamless pleased application reiterate and have XX% at our X%, and the on up our abandon and in account I'm which detection. has to rate our application our XX%.
of fund to account with of create this needed meaning XX%, it. was fully and automated a manual oversight no instantly submission that All accomplished was rate an
account process, opening be be technology elegant, also will branches, a should also this which digital of best-in-class phase will new solution. prove project into physical which of the our fully same create to second rollout an a The
our retail branch partnering employees franchise, granular as next to aggressively deposit Additionally, with earlier. esteemed be will grow noted core I focus our our
We resilience growth of retail will success. channel backbone ask the our the being to to of challenge and is our to because integral them of the our rise institution continued
branch this visit implemented, do combined by careful We partner and refreshed lines out elimination of engage to with procedures bank's our need with policies will technology we best, managers time outbound to Simply who product The the to have of and and network the on we frequently. do have what they empowered will an empowering teams they them with focus to the redundancies equipped have community. put, the client get do outreach. with clients
questions, to like Before profound take roles I'd challenges, shared mutual culture support, back only I questions. member will is through those we the Operator aspirations your every that we hand a our of makes our us in steered to to who have the fortified to it to not and but customer-facing recent now my us gratitude the From moment also for heroes, that express commitment, back-office move very are. team. to call