everyone. Brian you, good and Thank morning
$XXX.X basis had that linked results. respect million were from the they originated jump acquired quarter quarter’s annualized. With into and strong loans excluding XX% a Let growth they figure total right this a and me this on loans remember XXX-XX are of
were commercial loan record million loans. or quarter second growth million which a loan $XXX.X by The of XX% was originations in $XXX.X driven
XXXX. on XX% during quarter increased originations basis compared as and loan quarter a commercial linked second the to originations commercial XX% of Our loan
industry concentration remain which and self-imposed still that for loan bookings real bank new and relative granular record success our again estate, our and the originations. small continued geography type as a to maintain very are also teams, SBA and pleased Overall, business limit. are property commercial once We of here sector, and long the diverse set with
benefit The very rates. pricing in fully loan year continue pipelines to XX% loan loan loan also to increases pleased the loan are are be in of strong Supported target X.X% local recent growth variable. that economies by at the new and with new XX% We yield new of XXX-XX The a the the accretive taxable yields excluding X.XX%. loan equivalent full we pricing balances. of short-term originated XX% to book our yields reflected has – came with new reiterating
range million. to We are $XX balances also confirming $XX in million for a of loan XXX-XX be XXXX our to guidance year end
Turning to deposits.
over the of increased X.X% deposits led client Our X point were the over and deposit the linked for by transaction highest link second quarter cost was deposits points base. at our relationship evidence of we model increased average X.X% a banking deposit of build just quarter an the for XX business basis Competition total as mid-sized growing first and of the over full growth quarter The to second of points dollars shopping our average potential starting clients quarter solid part is quarter continues basis are The averages X see the grew to basis paid small annualized in XXXX. number rate and rate. just and of are XXXX. that
loan-to-deposit reach grow ratio very and and patient XX% relationship to without deposits rates. allows we full feel core remain having us comfortable However, model with our to
fully for growth to widened basis above competitive third of but our are deposits X.XX%, slowing margin well optimistic to slightly time points transaction with XX grow guidance X.XXs. flat XXXX a in the mid our in see for pipeline our light transaction interest of low half quarter in The down. deposits net We outlook second projected taxable digits deposit equivalent environment. the We about single being
interest guidance accretion points XXX-XX As also acquired benefited Net or margin due basis accelerated increases. a asset accelerated our loans. loans include reminder clearly not the increases in And and quarter any sensitivity moves and we LIBOR our prime rate on rate early interest accretion. X benefited this given to did from
the low year-end targeted forward of This we by does rate for earnings interest be once of be fully increases benefit from well continue further we asset our to the fed, position assume XXXX, levels taxable billion. with are net forecasting short-term equivalent interest X.XXs increases. guidance rest in around to again, not $X.X margin to Looking any the rate further
cost will very magnitude of the that deposit are and depositor depend the to margin Building versus of core and us can long-term earning pace balance defendable base funds However, on is support priority grow building we a a assets. for a long-term careful the pricing.
credit. onto Moving
classified basis at at X.XX%, quarter of months for for total outlook X five which loans basis were loan ratio and in loans trend quarter’s continued the charge-offs by a and $X.X just with non-accrual points the remain decrease to originated Net Non-accrual past loan the was demands is growth. positive quarter annualized a Our X.XX% stable a of ratio the XX second quality favorable asset this million with into our year. acquired expense prior quarter’s quarter’s loss the second second from quarter the and loan second the of points driven half provision X.XX%.
than the we basis half second in credit expected remainder is of points expect to as remains XXXX the lower what for guided the to XX million of loan the therefore charge-offs had The which for is million Looking $X around before. XXXX to annualized be $X we expense ahead each for be range. provision quarter, net stable, environment loss
quarter’s FDIC As Hillcrest Rick acquired part ratio process, acquisition XXXX the resolution our moved during quarter, in total with into XXX-XX last loan, of earnings we from our during asset in as $XXX second discussed to quarter’s X.XX% QX. X.XX% nonperforming back asset OREO the this call increased million we which which
value resolution. collateral underlying the expect We have a solid positive in and
from the increased mainly non-performing banking was totaled prior sales, million. gains quarter assets income XX, Excluding all million, XXXX. driven increased by Link X.XX% and at stronger income X% $XX.X bank ratio June that fees increase the fee $X.X OREO on quarter. was $X.X from Non-interest loans which transfer a million card mortgage the XXX-XX
a production XX% mortgage quarter are second The quarter up basis. volumes loan on linked
due our for compressed second of margin non-interest guidance price full of in the marketplace. on a on year range million March the However, XXXX are expectations on levels XXXX gain our the originations mortgage the total in $XX stayed Based the half we income, this increased in residential to resulting million. lowering at sale to production competition $XX
consistent third is be expected due The quarter decrease again with to second our seasonality non-interest fourth. the quarter to and income in
the pleased quarter. prior are expenses Regarding a from expenses, very of total million, quarter $XX.X decrease to report million $X.X we the second of
point. in that all substantially This related onetime at we and quarter’s costs realized been the included believe have $X.X million acquisition, expenses Peoples to number acquisition this related
linked the first we efficiencies the We both quarter when quarter million the Peoples expenses $X.X for and sorry, decreased the both adjusting acquisition – are second acquisition. Peoples costs are quarter and second expenses realizing from as first adjusting
loan-related related This quarter’s $X.X included expense. also problem to results OERO million net on
and at guiding be of are full to during have million we to managing the XXXX forward, $XXX will our loss costs million. to our mortgage by fee $XX offsetting first $XXX is When $XX our than million year teammates Peoples incurred lower range trends. job costs half the this our the adjusted prior driven million XXXX. expense half guidance second done excellent due the This guidance the Going for of for put to in expenses acquisition the banking income
zero, OREO and XXXX loan The guidance second of net problem half assumes expense.
gains to expenses OREO offset the half for year. the these lumpy, of continue Although to we expect second
the This second on this comprehensive an before The share remained which accumulated around excludes a was We rate adjustment Peoples in project annual the of quarter’s taxes XX, this FTE activity. Capital and compensation now had rate recall, book benefited June half for XX%. we the effective XX. the of XXXX quarter value tangible XXXX sooner result And Adjusting excluding the related per other book $XX.XX measure, item, interest for effective guided. to to just was value $X.X share tax be tax ratios per strong, than with income exceeds million as XX% of acquisition stock in December XX.X%. the from income.
XX.X of to count we comments. share Tim, XXXX. fully our that the expect diluted be average fully concludes million for We level remainder – expect my our shares at
