of market of page was the at metrics financial adding strong the in quarter Thank despite value a $XX.XX, QX March. you, a in back turmoil the X.X% Starting Malcolm. on after basis quarter on year-over-year and share ended quarter the dividends. up X.X% book Tangible the effect five. financial per
operating pre-provision of TBV that regulatory we our capacity or capital. good loans. loan to A earnings pretax on the is believe return impacting barometer without a it’s new from metric portfolio added absorption average release I loss
on a Our over for XXX and QX up points is result is basis. basis XX% year-over-year
On slide six.
as over of over Fear at XX.X%, safe. deposits For to a deposit annualized Xth. environment and scale were was there took growing everything the an was days core March we flight perceived changed scale first the quarter, on XX and the of rate
our was market this most For evident correspondent clients. Veritex, money with
venue, by $XX our QX, to continues X% lost moved core deposits our the Overall, to During these broker liquidity XX% down correspondent almost index activity were $XXX quarter as for evidenced of safest we QX, of excess or with as clients million replaced to deposits deposit the the increase Fed. deposits. the deposits million. funding in end we Since of normal as return
the balance production growth, capital, to focus business C&I CRE in and small loan away the journey from QX especially of loan by the started sheet ADC ratio. Veritex XXXX. starting transform to this our We and and shifting did building CETX slowing
of After on value we We give in weight at balanced the heightened Labor scorecard. incentive our balance changed deposit the the deposit our banking much portion Day, higher a volume and focus of sheet. program banker -- to our beginning January
marketing products in and with deposit February We results. reallocated marketing launched direct encouraging campaign spend to a
efforts continue All and XXXX many more will of these through and beyond.
improved $X.X since billion uninsured materially our funding million XX%. by or liquidity March reduced our $XXX XXth, non-core capacity Currently, almost our capacity. and liquidity exceeds Finally, we by deposits
QX the Moving declined from XX% clearly XXXX. slide of of forward to effect deposits of be in hikes deposits discussion of other rate These non-interest-bearing Fed’s the on can the XX% interest-bearing deposits to have to in deposits, seen out QX the interest categories. XXXX seven. in shift Continuing total
Deposit combat. into hand-to-hand pricing morphed has competition
XX%. is deposit betas continue to the Our requirements given cycle-to-date approximately expect beta I total increase landscape. deposit and funding to competitive
at slide from uninsured average XX/XX/XX. account Veritex’s and uncollateralized XX.X% deposits balance at down On XX.X%, eight, are is $XXX,XXX.
Unfunded per production loan drop rate rates the of quarter per XX% as commitments from declined to QX continue QX to quarter. $XXX liquidity continue increased much increase, million to of $XXX a uncertainty interest more million nine, slide became ADC and at to concern. economic On
On greater evidence slide the on of this emphasis C&I. you see XX,
real from accounted During the quarter, for QX. of estate first XX% our up in XX% C&I production, and owner-occupied
and on significantly X.X% Net decreased The interest count income interest-bearing yields. day by higher decrease offset page to the biggest to three million On or by loan $XXX.X deposits this higher drivers of QX. in was million liabilities, $X.X XX. and were rates
deposit negatively This X.XX% by to due basis points problem QX and margin rest interest at the flows net bps impacted Interest The from reversals contraction decreased the on about in QX pricing. QX. X credits The was NIM of balance the points is to basis higher X carrying cash XX approximately NIM. was on is and Fed.
since the NIMs are to largely this remain slightly pressure banking QX All rate left we of remain unchanged sensitive. that liquidity system interest has given for and deposits. the war the under ongoing is sensitivity say, and to amount likely asset is Veritex’s
On slide XX.
loan yield was to loan of QX deposit our carries points. X.XX%, increased interest while X.XX%. points production basis XX QX, rate up basis an XX During rates
floating book have So predominantly the to new a rate deposit offset production and to thankful acceptable loan able deliver to beta be spreads. impact to
metrics On slide key certain XX, we show portfolio. our on investment
AFS The $XX the four First, only less mark-to-market X% the million. XX% of on years, is it’s in entire the is portfolio assets. than portfolio is of and duration
March is becoming important trade This to On the part slide XX, Veritex a Revenue million. non-interest excludes revenue loss investment executed on Xth. $XX.X of diversification more before increased $X.X million the by the portfolio income stream. deleveraging
also second helped a performance got Thrive quarter, consecutive the much it partially and revenue. outstanding For and business loss offset USDA at swap lower our by we with customer rate in smaller interest was
come additional just minute. in and USDA back a with on We Thrive comments will
Non-interest million, processing just under expense. and by expense by software compensation higher decreased $XXX,XXX variable reflecting data to lower $XX partially offset
XX. Turning to slide
in QX have approximately premiums loans. stage As Avenue as loans remain closed closing $XXX another was Capital and forward very for on we North a sold of Gain with quarter. million guaranteed great I million portion during loans on the those We we the quarter $XX sale pipeline noted earlier, of the strong look to strong in USDA QX.
end consistent year. program year. funding revenue before what B&I that once noting and the XXXX the USDA could out in impact happened is again This of of could later run the XXXX worth It’s government’s fiscal in with the
than the Our Gain sale traction. SBA at margins pipelines slightly are new on continue end recent leadership stronger build QX. and as to hires gain of
funded Moving increased been Veritex are locks through represented loss million. volume an as the the our margin XX% P&L. These of recognized Gain X% impact method from million QX XX% to $XXX QX to below on margins Thrive. now loss historical the Thrive. from sale plus levels, results. has Thankfully over -- but negative we recorded of $X.X improved of equity still long-dated losses just
Thrive’s right-size volume expense to of given bearing fruit. is XXXX efforts structure expected production the company, the
possible. XXXX breakeven to performance in can believe Thrive as continue We
the total basis this points On CETX by million $XX during slide ratios capital period. expanded XX grew to $X.XXX XX, approximately have billion. during quarter
on note the above the buffer. the capital this plus ratios note remain the These on, from impact portfolios. ratios Please impact AFS HTM the please threshold well-capitalized meaningfully the the on mark-to-market bar, capital and
Looking of XXXX. end forward moderating and growth to unfunded us allow the loan of believe should on commitments by achieve that we our lower XX% capital, CETX target
recessionary Finally, model XX. CECL points increased on Note weighting allowance on to reflect out slide increased -- the the by These that’s economic the we basis there. in risk the that the the X.XX%. downside X risk to in greater scenarios uncertainty outlook and changes the economic
With like some for over call I’d to Clay turn comments credit. on the to that,
