good share integration. $XX.X higher per several higher Colorado an expenses. per was $XX.X to income Adjusted income $X.XX in which and Net included related share. increase Randy, non-interest net $X.XX partially this quarter income GAAP morning offset this Thanks, or income due was quarter million everyone. million interest the was costs net net by or
of applicable rest the our remove cost is operating the believe integration results adjusted which and comments to frame where around of I'll reflective acquisition performance. core my we
following the stages but are our to cost acquisition, anticipated. and on are achieve earnings the we We early as savings accretion in track target
strong assets an made. million, adjusted return while and These equivalent yields ratios expanding due Net of to cost loan tax quarter result fewer equity return by by interest average growth basis the fully higher we was core optimizing X.XX% higher on offset were sheet earning investments Quarterly and of a on X% average funds or balance two and the assets performance fourth driven adjusted days. XX.X%. and $X.X from partially increased average was have on margin stronger income
loans $XXX well deposits loans. on due cost the deposits as mix earning to the increased on to increased Average prior-quarter. products yields million compared higher as sought of pressure The anticipated increased of cost re-pricing yield basis as XX points clients as pricing continued well yields. into funds better shifting new due The to higher as assets on as
bearing expanded the to to equivalent to due net the in points tax X.XX% the basis compared margin four prior-quarter non-interest interest Fully quarter. benefit of deposits primarily
in the from moderate narrow quarter this year. on remainder between to X.X% to mix and margin X.XX% expect of to a changes level funding level first based our We the and for
offsetting variable portfolio, expect an of this of largely increases increase for rate rate We pricing. believe assuming continued and XX our points points more Given enhancements one a loan basis few is opportunity basis year. we benefit there loan additional are in with
which year-end pressured during was deployed deposits deposits. declined a XX% any quarter significant this some demand but experienced not into of was deposits of had and we to total we did We and percentage losses. shift at client clients level quarter by interest accounts, Our the elevated experience of bearing
funds for of quarter. cost the was total Our X.XX%
rate through our remained Our XXs total the increases expectations. deposit first against with beta line in in quarter the
'XX, by XX NIM During cost the because the at have basis points outpacing portfolio. deposits on cycle, current beginning largely loans of our loan we the rate variable starting of yield expanded our of with
As we in have already. commercial majority deposit we our have expectations our cycle our to through beta managed focus due of this realized the largely through the rate strategy, results cycle,
our defend as forward While deposits persist, us we move positioning acknowledge to unique better competition we allow will here. will from NIM our for
card on sale credit quarter volume. gain $X.X increased and categories, card increased of for again focused transaction income Non-interest and this on remain the million increasing was across income Credit quarter, including loans. we several
Excluding acquisition million. both $X.X in first quarter the expense and prior-quarter, non-interest increased related expenses the
and the higher increases, the to Salaries were merit from limit and employees full-quarter acquisition. of the addition due resets and Colorado tax impact costs benefit of benefit
Additionally, rate. deposit to insurance the premiums increased, in an increase primarily due assessment
our We expense per amortization We've remainder deposit million and for of as of $XX the With a environment a range result to the loan of acquisition. also reassessing $XX full-quarter given expense base the the million core to growth, the be anticipate of economy. we had year. a intangible quarter begun non-interest moderating in
to base leverage. operating and of well to earnings cost within growth revenue our plan amount promote continued be We our to manage expansion
Our activity the the in fourth tax for rate to was quarter down. quarter. XX% due acquisition
XX% We expect to to of the tax a the XX% year. rate remain for range in
decrease issuance for million stockholders At available of was The the in the of million XX, net $XXX million to sales loss Mike rates totaled 'XX. the mentioned, December end income, increase preferred, unrealized securities to a compared quarter, $XXX as declined X.X due at of the long-term as which and moderated. equity on
balance to the As of well of would quarter-end, all sheet environment, couple under our like aspects I are ratios. our and we highlight capitalized Considering a current liquidity.
as capacity As liquidity to expand on borrowing significant worked Federal have Reserve at XX, Slide FHLB precaution. we $X.X we both and our the approximately and have outlined of billion a
not this do or have window doing we utilized foresee discount point. and Reserve We not new the the Federal BTFP so at
We balance liquidity. on have significant sheet
our can we be our have In wanted XXX% that today to of for gain. pledged $XXX million portfolio, break to available sell $XXX I at FHLB, sale addition cash, additional and an down investment net could million we a to securities
mark AFS entire on as X/XX/XX portfolio X% of after-tax our of was The capital.
also We Reserve, wholesale of Fed additional including approximately sources FHLB, $X.X the the capacity liquidity, have funding totaling balance sheet sources off Federal other billion. Funds multiple and at
outlines XX composition Slide investment portfolio. the of our
a course normal increased at the a modest improvement to our or greater liquidity, we of XX% in gain XX% I As reinvestment at the yields, equivalent were and in providing munis quarter gain have sold from and yield. year-end. liquidity net transacted mentioned, at the ratio Securities portfolio with the during in better shifted
some also deposit detail our by and additional on Slide which included base We our geography. on shows diversity industry XX,
We deposit with are We in and our our state, wholesale strong outlined follows by individual footprint. strategy. Midwest composition XX% XX% which consistent is largely the our commercial, branch markets, at in and operate quarter-end, XX% which we and
by We outside above banking also in industry, with categories we X% have of institutions. and NAICS depositors great code trusts some industry no provided detail concentrations by diversity and
diversity. balances illustrate our deposit client Average our base further across good
Our is when effective XX%, considering uninsured accounts. pass deposits through percentage
utilization a our client program additional have increase needed in the in quarter. meet saw also we our as and We of first modest ICS in capacity program to requests,
margin of In summary, the earnings, successful liquidity rest first momentum and heading had a with strong quarter year. into we the
begin Operator, question-and-answer now are we ready the to of portion call. the
