you, Tim good and morning. Thank Alright.
for Tim quarter share As XXXX our recorded with million and the first very of $XX.X diluted are we of per mentioned, pleased of $X.XX. record earnings earnings
results interest quarter’s last credit Our first margin, we call. growth, net expense are our Fed. along interest driven strong with income always solid which by on loan full-year and deposit that increased policy our by the provided results, in management. guidance the rate resulted net happy as continued focus guidance a include low not reaffirm And to does earnings future and we interest the cost changes After any on were XXXX expanded
quarter, The balanced loan balances originated first during latter the of we the plans strong XX.X% outpaced During our growth growth asset annualized solid well to continues across and XXXX, loan a be in a is geographies rate. various continuation part of quarter growing sectors. and momentum classes, built the industry by the at acquired and
pipeline quarter's were is $XXX great loan look XX.X% fundings rate This equivalent strong. newly first originated The fully the X.X%. off was taxable The same higher and start quarter loan year. than year a last to loan million our or
to after this of As upper loan a feel quarter’s and to the range. full-year was reminder our the end guiding comfortable X% guidance growth towards first performance, we strong XX%
the economy markets cautious clients continue we guarder our and of our perform while remain averages, course in curve, strong point to activities during. this the ships national but Of mindful the define than flat are at and the yield better
deposit. Turning to
quarter still Our flat average a first on essentially basis. were quarter deposits transaction linked
linked balance and last same X.X% our business progress make we quarter by the quarter on the increased growth, non-interest-bank X.X% and the basis, to are measured retail into happy a with commercial, relationships our clients account year. grow We small as checking over which
up the and as to prior quarter basis. throughout the seeing transaction linked XX.X% in are quarter evidenced momentum a the deposit on to loan-to-deposit has increased I’m by deposit strategy pleased remain or $XXX.X picked the of annualized at good deposit million flat quarter, XX%. growth also our We report transaction ratio spot our balance that
quarters points, base. and basis deposit their transaction through XX as as four basis before basis, cost to cost linked cost the continue the on guided was total to the just a we was points. points first hikes XXXX, The rate quarter XX increased had deposit way basis deposit work The
taxable two transaction mid-single fully flat full-year for single the in deposit we low digit reaffirming $XX.X current net and linked With in The full-year result XXXX, rest into fourth resulting with our staying first an on the million income quarter. quarter digits. of as the in totaled are total deposit well and fewer relatively a This equivalent increased as net growth, of guidance growth interest loan growth strong deposit despite interest days a quarter margin. basis, expanded is
quarter the widens to equivalent During our interest fully points taxable X.XX%. net six basis margin
we calculations. to last to mortgage portfolio second months, year, net held the margin during summer similar to sale for increase pressure the putting third quarter downward interest thus the residential ahead, expect and Looking
prior of such, to X% rest of the above equivalent project $X.X for As targeted change for our and no XXXX, our taxable earning asset $X.X slightly reaffirming guidance fully remain billion. are we billion year-end we levels margin net to interest
by million a Provision quarter, was charge-offs Net $X.X strong to for for off first originated strong to start quality. also relative loan loss loan loan driven the the expense growth. are and for to favorable adherence asset outlook driven points standards. the our limits annualized underwriting by were basis quality and quarter, disciplined our for credit self-imposed remains concentration our two the We just
future X.X% the we guiding to charge-offs cover to of quarters the both annualized. basis to loan balance the of growth $XX the as million $X expense at originated expect XXXX, provision points about million, at our and quarters coverage For to are remaining in net be three XX range next X.X% we three for
seasonal with on was residential loans first us primarily summer fourth $XX months, full-year mortgage on And income during $X.X non-interest $XX. driven higher million to non-interest the quarter of puts $XX.X this and guidance path activity increasing was mortgage XXXX. in increase the income income million non-interest a the of achieve quarter linked to residential by sold. quarters The in than the The million gains the
our expense from $X.X due Regarding was primarily quarter’s expenses, asset by workout $X.X million higher commissions non-interest seasonal increase increase payroll to and OREO million as prior increased higher driven quarter million the salaries The and million benefits a expense. totaled first taxes, $X.X linked quarter. and problem in and well as $XX.X
to have our mentioned to non-interest we expenses full-year. and the guidance. we gains OREO Reiterating expense year to expense for full-year our guided later seasonal The well loan range. initiative, expect increase expansion million the annual quarters. as the lead $XXX activity merit the increases, previously $XXX However, mortgage Utah to expenses within expect as coming We compensation in realized problem in this offset be will higher previously, OREO million as still the
to continue on included the range. will and was efficiency stock for XX.X% the related in tax aim come to focus end As our lower $X.X compensation of million the benefit and quarter we to improving we always, at The effective rate activity.
effective was XX.X% the we Excluding tax expect for XXXX to in rate for previously rest be tax the XX.X% of guided XX.X% the this, effective range. the the to quarter rate
earnings. ratio the comments. finished we capital share $XX.XX the that As to to value per leverage book relates our Tim tangible Tier capital, quarter concludes driven increased a and my it record X XX.X% with by
