everyone, call. good MCB increased understatement. is once margin And to Mark. for say XX was basis the third quarter joining To morning, an by again, points The interest X.XX%. the you, Thank that thanks and active at net
our NIM requires funding explanation. contribute this performance, loan discipline strategy to pricing quarter's continued result outstanding to While additional and our
metric rather that underlying a is million. was modest in in not quarter growth Loan $XX immediately is origination third of evident growth activity. payoff the What and level the
$XXX $XXX while also million. payoffs originated pay than million, totaling of downs We experiencing loans and have more approximately
that we X.X%. the third approximately was Focusing we we recognized on those downs $X.X estimate penalties and totaled payoffs experience, deferred our that normalize and that for prepayment NIM the After associated pay fees million. quarter
the with approximately at through to The offset XX% a to point year, reduction GPG X.X% this expect the again. XX% For enacted will our explanation of be driven the be replacement main current three passed that funds basis to of The will deposits remainder approximately Fed cost of recently the which X.XX%. by interest-bearing expectation X.XX% by beta is largely in million approximately we a we deposits for rate, of variables. about of NIM XX $XXX
both wholesale outflows. a and GPG use to replace expect core funding We deposits on temporary to basis those
X.XX% noteworthy approximately our $X.X quarter rate not deposits a that was in forecast. fourth deposits deposits low We The September already balance It billion. totaled that deposits swapped is priced very interest-bearing have with assumed while billion the carry include $X.X and replacement XX, fixed were approximately repriced Fed a that move of of at deposits coupon. to
will XX prime and model, the basis forecast addition, the our $X.X approximately in performance. a in of have cut rate In loans single point temper NIM November. near-term SOFR repricing of updated we billion index In penciled
we XXX effectively basis forward additional have XXXX, to an XXX basis per point quarter. cut cuts, modeled Looking point rate
As Mark that our reflective numerous X.XX% NIM the we of mentioned, believe in end to that grow of assumptions, other can XXXX. scenario by and
an on significant weighted the quarter on focus of book. average the in quarter Let's X.XX%. A balance new our elevated loan of coupon rate was payoff in originations coupon The X.XX%. third loan payoffs the volume resulted in floating
maturities coupon of quarter totaling be $XXX first million one. for to million X.X%. weighted of average XXXX, weighted the fourth $XXX about average clear on that approximately forward, is Looking just maturities totaling And of coupon is the And about half X.XX%.
Looking XX% at we our maturities, about typically that renewed, to XX% those are of loans. retain
outflows. deposits, of million. verticals and while growth experienced deposits the year $XXX about million, about by deposits total $XXX increased million Interest-bearing are in grown primarily of million. $XXX up approximately GPG, we the with The approximately growth the Year-to-date, retail million quarter. and loan about end than quarter. the million, by non-interest-bearing loan the declined has in deposit to Year-to-date, more to $XXX HOA bulk of by increased Deposits book net expect the $XXX GPG related $XXX
especially outlook EB-X, verticals across vertical for and Municipal the XXXX is in our HOA, growth the Importantly, stack, robust. deposit
in with significant impacted As origination Mark quality the the mentioned in previously, in by in were the model, The third replaced short-dated new quarter payoff a trends of In with the activity quarter. as ACL the portfolio. loans provision was results within the negative strong uptick Effectively, rate. remained asset added loan the somewhat modestly book no modest amount duration allowance and duration of originations. identifiable the extended the
revenue at unchanged million. for was quarter-over-quarter the related million. GPG Non-interest quarter $X.X $X.X basically was approximately income
down the GPG turn wind to X. will we business, revenue this As
net XXXX Non-interest to total $XX Our in quarter. million. million income is the $XX third totaled expenses million interest expectation for $XX.X
remediation impacted additional transformation down. this associated state by $XX mentioned, an Expenses quarter and booked Martin related with related and million, a an were $XXX,XXX As the reserve to general. million GPG was attorney digital $X.X costs within a to to resolve the was wind regulatory work investigation investment
$XXX For X% offset fees build-out quarter-over-quarter in professional comp as benefits, the expect X% to compliance reduction cost more about as settlement elevated and the our expenses decline $XXX will and the than fourth be to management largely has net of of Therefore, full quarter, estimate at million, million risk the I and teams quickly happened a by year expected. reserve. non-interest is approximately greater will revised
for was approximately XX%. the rate tax effective quarter The
the expect to tax be we forward, of range Going effective in XX% discrete items. the to rate XX%, excluding
XXXX loan A note range expect the XX%. guidance. early in of to to continue on XX% growth we
income GPG's X% We non-interest expect course. growth excluding of to contribution, X%, of
to expected be are expenses flat. Operating
XXXX. be low rate Now The a the goal OpEx expected of into toward that to end $XXX the run the 'XX clean achievement stands. importantly, previous of for of my still is guidance timing in
accumulated reported the or accessed investor to deck, earnings. approximately project, for reserve, the earnings BaaS Year-to-date, Finally, non-GAAP the charges and $XX million website regulatory please the our onetime adjusted be $XX which down to after to a settlement remuneration exit can refer million related updated from totaled digital from about walk tax.
over turn call to Thank I the back will you. operator. the now
