everyone. Rick, you, good Thank and morning,
We average and With equity. As low we're very a goals tangible tangible wider return first a on double-digit return assets to tangible pleased average exceeded our driven of on adjusted plans and stated return by our and average an Tim and mentioned, have proud a on quarter equity X% X.XX%, achieved interest on costs. of of net margin tangible return assets XX.XX%. credit
noninterest acquired loans to excludes income. adding of were reaffirming flat few Starting annualized growth our $XX real XX.X% as loan lower X% business comparison in and in These in yields which consistent total portfolios. on X.X%. yields outstandings of our the accretive loan and we and XX% by quarter-end balances. new with in we've with to XX%, variable. growth. by adjustments with continue provided Fully which impacted was pay last book Supported good of for originated with Peoples estate local loan with total commercial our year-end energy interest pleased We we at reiterating guidance economies, offset that net and originated wider XXX-XX XXXX quarter pipelines pay growth the very Originated margin balances, are year a strong commercial XX% year-over-year XXXX came to a in or had and loan XX.X%. be the was nonowner-occupied by the to by plans. downs growth downs growth new our million full commercial the our X.X% our taxable loan comparison, are expected loan loans of We're equivalent banking momentum new evidenced originations XXX-XX loans, yield The annualized of excluding target
As that for quarter. and XXX-XX well year-end guidance our outstanding confirming as loans we last total shared loans
that early than We generation are payoffs the can offset. our but business new mindful trends more feel of in
in XX% full-year our balances balance larger linked average growth assumes a loan quarter. decline reminder, to that than a the As were had Transaction year-end normal deposits XX% XXXX results. Peoples'
heels saw average in we first normal quarter a quarter business greater the decline than On a of growth, strong deposits. XX.X% annualized fourth
X historically our comparison just points a spot normal and measuring Combined increased attractive have base, quarter has decreased Peoples' over first However, of more balances to flat year. basis the recovered of deposits when with the balances. this basis quarter actually quarter's last the linked deposit cost X points
XXXX, of and of margin basis The at decreasing XX growth the interest equivalent XX% support time without for loan-to-deposit of deposit average and digits, plenty accretion range loan rate to deposits. we rest can point for increase as continue reaching addition increase deposits the XX.X% LIBOR XXX-XX mid-single in single fed taxable we have and to basis as X.XX%, for totaled of XX average over originated widened the acquired result yield the XX transactional in a the points digits With in the income X.XX% an early fourth guidance slightly drove the the rates growth above an equivalent whereas million, in the increase points our Peoples. For quarter borrowings. room accelerated cost total basis move target well margin ratio, and X.XX%. loans. planned $XX.X a growth deposit we of taxable net loans, the our wider fully net be attributed to lower have quarter, and on interest on Fully higher the to
earning year-end in no we the forward the not are rating to change $X.X any additional Looking considering asset billion. interest billion equivalent forecasting levels by net increases with mid-XXXs margin our Fed, to of $X.X a targeted fully taxable and
XXX-XX over each a are million, quarters. accretion successive quarter of income of third and decrease we guidance, fourth additional the As expecting $X.X $XXX,XXX of second about with
for As the usual, accelerated charge-offs cash addressed Rick growth, flows in quality. change changes our and and the these doubled Peoples levels, $X the $XX to allowance Benefiting range income for to three in from million million the million. provision estimated guidance and for resulting can remeasurement of future acquisition, accretion expected process. estimates our the quarter is loan expense to timing loan income loss credit $XX.X last from quarterly this thereof, where be quarters. Taking net noninterest
million the grew from strong the service of is bank originations mortgage last card over in were end fee pro addition origination forma fact, to In continue and first nice This on income year start. market addition a $XXX X% of to sold. business charges $XXX to banking business. an $X a This represent growth million, basis. which of a Group we benefited nice mortgage production, on off fees, million Purchase in generated and in mortgages of XX% quarter
gain are This led are sale for previously the on we lower sale on aggressively. year. experiencing mortgage gain than our a lowering marketplace forecasted expectations pricing to However, companies a on our in as has
income, we noninterest range $XX are of total to full to million a year million. For resetting $XX guidance
business, quarters. expecting second mortgage income in banking the the third higher are mortgage we fee of seasonality Given and
the that million, $XX.X million and OREO million total of in first to our came expenses, related Regarding ranges. we're expense. quarter quarter guided and net the include asset of pleased cost at are $X.X expenses workout of acquisition problem $X.X did onetime middle The expenses
gains Although lumpy, for full-year. the expenses offset we to OREO expect continue these to
range not the of end cost. to you acquisition guide include lower $XXX million. expenses full would This range we the $XXX guidance million of prior to the our for forward, Going onetime year does
$X costs We million to an second $XXX,XXX are acquisition quarter forecasting Peoples. in to additional the related
very As expected the cost Tim and are savings. well, has gone we integration for mentioned, Peoples realizing work the
fully is could result and operating culture better diluted expense this We shares identifying just focused with the levels management quarter part of our additional end to and year. at in expectations on tax are for consistent create guidance. of outstanding and leverage, opportunities The our effective a rate ongoing which expense prior
of concludes rate share continue we in book little Peoples investment before the fully book announced. $XX.XX tax on crossover a the Both and XX%, the guided value year. value to than equivalent mark as investment that two-year payback. of stronger Again, expect available tangible past XXXX that fair portfolio. Capital per transaction, year-end quarter the this XX%. per had expect We measures well for around ratios portfolio. quarter value are are tangible on we mark by the effective ended XX% for method sale a share as we we Tim, comments. in a range the faster available-for-sale on Under also the Consider than taxable to third the value to for before my grow track tax fair the rate at the the
