reaching as speakers. We this expect do levels. some we interest margin And in our the was about Good acceptable cut improve up but only you not in will the it and the fourth we improve the profitability, where XXXX, year the fourth Thank expected I joining in to and of expenses think year you, to be both net margin we'll on, detail reach thank pleased and hard quarter. when afternoon, net results are certainly from stabilize move but banking, with ended Davis. the interest the cannot what our pleased not the we what see the who are but were work prosperity in over we income without to hear the call. for the industry, bankers, XXXX tailwinds into found can I more more to through began, years you our you quarter in best year. by we go that but earnings Bud
us of soon. on more as our We to Tennessee joined team and we'll Smith provide the there announce that Memphis, information certainly market, President are and has pleased Joel location
think we billion, great there. on Total we Memphis opportunity were So and a deposits market. great is have it $XX a
in we pivoted of saw calls, deposit great which in rates gathering, March once we mid-'XX, events have treasury given be in XXXX. commented to we the and to As prior time the run-up proved
XXXX Our expectations deposit in exceeded growth with XX%. of results year-over-year
the XX% accounts were year-over-year. commercial were XXXX, up including and accounts, over new up retail accounts, total XX% New
little has that loan of banks We noninterest-bearing PPP C&I few course, flat of higher, more pretty the not last on And borrowings the are reduction size, the X serve us brokered quarter. and with finish you that grew bit This standards, one since improved expected. certainly line Home this has was or otherwise. of program. Certainly, the after Loan aftereffects who funded months reduced the moved a would growth the Federal regulators no our since has have most borrowers liquidity I announce side remarks.
Loans will of more correspondent if June Rodney as year. as X well then rates new We was really my deposits did than it's XXXX. of see C&I XX, in utilization also And Rushing fourth the deposits. been in of will division the discuss about slightly advances. the
of the noninterest-bearing money when of taking worlds have credit. down you're worst lines really both you So to there, out of accounts pay
point. X.X%. early this average $XXX off paid is of loans we quarter of rate that think So million we in the The quarter is rearview the backstory most had of of the at do mirror in at an that
those loan a -- good that profitability. improved thing getting payoffs was and So
normalized are growth loan will picking increasingly that we We year. is growing optimistic up, as more activity this see
year.
We normal that improved quarter in year at loan end, of levels. the think carry way a and, blistering will certainly, activity on XX% certainly year. We're basis. we And picking the later has momentum substantially pipeline activity see And increased loan point. pace but not since us is some the robust up above Memphis this market a weekly not from help typical loan last like activity which XXXX, do in at in Our very has was pipeline well, XXXX a new certainly
though the our end the the go team On X adding through a of more other some balanced up time, as new producers hired does of end head we side, efficiency production remain improve net maybe our XXX. a quarter, for strong. do the total of we expect will to Memphis, over markets of of year.
Credit in in up a fourth X quality are Even we and we count the
most think we But in waiting Abbott discuss and emerging, the signs early XXXX. for recession in of and investors us industry do a since Henry been will all minutes difficulties in more I see it of few detail. not have
going turn time, about So I'm to it over the to at this to correspondent division. Rodney talk
