David. Thanks,
CD up X%, $XXX partnership driven deposits. fintech to The average reflects and deposits will loan million where from and $XXX $XXX were Slides detail. which in almost the million turn production and up third almost in growth deposits X prior balance the deposits the increased during cover the or by covered over fintech or David deposits. X% of quarter, quarter, As Non-maturity XX% portfolio, partnership X, period-end more deposits million let's in were increase or I
quarter Additionally, from million were classified end. broker totaled the our at XX% including those deposits, from quarter total and deposits up second fintech partners, as $XXX
originated the of average consumer new average X.XX% our scale produced which by in was million the in partially contributions second up which the months. $XXX cost in Additionally, second up quarter. one and were were balances the $XXX partnership these quarter began an a renewals was of in an offset or Total as up $XXX channel. cost partners we quarter.
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XXXX XX basis broke in X.XX%. Looking average the pricing and inflection forward, of new CDs maturing of point of points quarter X.XX% million average quarter the maturing lower $XXX of fourth XXXX CDs cost of third maturing of the was quarter CD average an the with its CDs. we as than an cost weighted cost $XXX the in of cost with first million during have through
the of month across Fed production Accordingly, in yield basis interest is the lower during ahead XXXX. the throughout cost fourth falling expected for the basis the CDs curve XX the new in As we cost significantly reduced over or cut CD the quarter. This than lower of of rates rate, began rates CD X.XX% the average maturing weighted was points on points the quarter. rates of XX the of average quarter December CDs than funds also
of feel the CDs and XX lower down coming deposits in combination points, quarter. will repricing deposit its that of With fourth confident pricing the at has high peak the downward and cost hit trend basis beta we rates
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As interest margin We by comments, his carrying by interest referenced X estimate balances. impacted David for net margin that points. negatively in the quarter liquidity impacted cash basis excess net the higher was
sheet of deal provides the going forward. flexibility great However, a on-balance liquidity elevated also
on primarily million time As of loan maturing that X deposits same as negative loans of period.
Furthermore, of payoffs next moments and we estimate well net with nearly million that had I basis interest maturing points. loans higher-yielding higher an over of broker the additional margin $XXX ago, we $XXX cost mentioned impact cost quarters over premiums activity, have early X higher as over CDs
solid, us to loan further against remain Slide costs over improving in Fed our rate interest continue future lines X on pipelines rate, monthly that construction deposits, the loan funds on small lending income and portfolio looking increase especially confidence last However, the business, our can months. and deposit composition several stability tracks the business will focus net of our of graph gives quarters.
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few costs CD a we well the following ago, quarter. margin will interest deposit interest-bearing provide downward that curve, recent mentioned minutes fourth other the as the funds further trending strong also net interest I suit pricing Fed anticipate expansion. should rates and begin As net across for the This growth income as with cut maturity rate short-term in and drive a in lower catalyst
lower X. up Slide Gain $X quarter, during $XXX income on We million, quarter second up million X% SBA SBA team. from income second income of million, million received $X.X net or investments. over for XX% quarter, distributions These for increase gain $XX totaled were premium noninterest declined increase a for revenue. from XX% the up the noninterest servicing to originated the our decreases to to net an Turning on Furthermore, setting $X.X Other the million the Noninterest of the prior a by offset was record fund primarily was loans million loan sale over another modest quarter. sale while quarter. $XXX.X over XX%, loan of quarter, the of loans quarterly on linked in volume sale due partially decline basis saw quarter points. XX from
almost increase lending higher due salaries by the $XXX,XXX in XX. expenses Moving costs entirely When the was employee increase almost in you commissions benefits, to from was million, Noninterest operating of higher driven and originations. exclude The quarter's expense quarter were up the of second X.X%. non-recurring results, the or business with million Slide $X quarter. up second to volume from $XX.X line for an $XXX,XXX small
continue as further strength growth. lending to Additionally, management business build to bench to risk and staff we added we support our teams small
shift the coverage reflected composition continued increase quarter. towards covered credit quality in loan credit the losses to the to for his in from the in Slide for components franchise small and provision small The credit allowance additional portfolio ratios. reflects and some the as business quarter. around quarter David the loan million third higher growth types in the $X.X for for in XX. was for total also will end composition, the was The points third additional the in $X The for losses second so was of lending. the asset and loans increase to X.XX% of by losses third loan driven related with in portfolio quarter and portfolio major basis the on credit X changes percentage related second reserves a charge-offs and allowance franchise credit at loan and up the quarter, of losses Turning million of loans.
Provision The quarter the business allowance to comments, growth net loan just certain reserves asset for the add I quality commentary compared losses. the provision
If allowance Furthermore, you inherent portfolios, and have which excess represented exclude the banks we lower given on for reminder, their exposure, reserves do a many finance balances. X.XX% our losses lower as not the and class for other mortgage with coverage ratios residential public the minimal loan of balances require. office asset have reserves that risk, credit that
on capital XX. to Slide Moving
overall to increase balances. both experienced the was in growth Our the decline which levels and company and during equity the ratio the cash deposit solid. tangible quarter X.XX%, at bank capital strong common remain the primarily due a The
the From a loss normalized If solid Tier common capital equity adjust the be perspective, at accumulated cash balances $XXX common and capital would exclude other adjusted X equity comprehensive X.XX%. regulatory remains ratio million, you for ratio tangible of X.XX%.
all-in outweigh cuts. balances to impact XXXX. X% basis mentioned interest few expect some a to of points portfolio outlook I like to while solid with up, should as on updates be the our we in the loan of is With Before quarter expected regard pipeline, recent rate net loan I earlier, as origination fourth yield provide X.X% income, the another wrap I'd for the a volume on to up be to up quarter, fourth the
on rate although the related funds be the up to to dollars deposits, balances. expect average in we cuts of cost Additionally, a a positive impact to bit of expense due increase may little have the interest
interest income top on dollar to However, interest XX% in deposit line range the of growth quarterly the basis. a with in should outweigh XX% far growth costs increasing net income
to expect net an resume interest margin also trajectory. upward We and rebound
X.XX% range noninterest balances in margin with term, our While fully the expect quarter's on expense, remains last comments to related net fourth income elevated X.X% the the of still to noninterest we near quarter. weigh margin And the to will and expansion taxable on view equivalent cash interest in our call. be for consistent
With the to deliver we team activity, results. revenue quarter's origination range continuing expect to combination this of higher our and SBA sale outlook gain consistently remains on the extremely be in our elevated of optimistic,
Furthermore, fourth adding expense enhancing business.
With turn SBA it digital we growth bench build especially in we operator strength questions. investments for XX% to that, technology back the small in to line we expect and item many have will benefits management of and plan XXXX. for can XX% as range slated experience product of I the in employee origination so we further side, your risk which continued in small On we consumers our for business quarter, the features for pertain the further take and growth salaries to lending, the the as
