walk the the open good through everyone we'll morning I'll you, your joined Thank and the Steve, XXXX then and second welcome earnings for and up earnings morning our us to and, questions. Synovus usual, team as to by quarter presentation this I'm call. line senior leadership
solid number well-executed strong growth equity This significant results, of overall Xth; the and operational are another continued integration quarter of in our the our metrics a to Preferred teams. we health new moment the yet But and of at by help and Synovus including earnings; before highlighted accomplishments just announcement I a the XXXX. that discipline of which portfolio our FCB capital the will assess walk I'd us the stack; E optimize a credit for like validate Series on take financial of further offering to pricing through of midpoint lending where was May
cognizant of environment just always continued for of all as half as mentioned for second the we're team While the ever-changing achievements combined interest to additional year execute these initiatives as the momentum we point throughout Synovus I an planned well rate XXXX.
financial updates From as few I organizational an to a and outlook share well. pleased perspective, am
now executing As one teams key a you our product and major this our realignment which and Kevin revenue, completed Chief we organizational leader plan earlier under year pooled for as strategic on all XXX% technology, focused Officer. who is growth in know Blair, of Operating profitability
Jamie's CFO. identifying We're you even have further. Jamie with also contributing onboard assure as Kevin our very morning take results, the elevate to financial ways to let now and me majority this we can of Jamie's Gregory although related questions excited us and our will already performance
market well think go-forward and growth from middle banking, this we our banking loan areas, a X.X% CRE, view our our to and X.X% model, as as balanced growth to about we new such areas think lending As helpful operating diversified specialty community coming mortgage. it's approach targeted and opportunity as as under
specifically. to We an outsized core our with model in footprint expect Synovus low-cost from existing funding the with enhance our throughout relationship our coming organically franchise to deposits and continue banking retail ability opportunity growth Florida the
generating for well that to diversification the we positioned us, health of front our continue company, returns consider opportunities the there whether it favorable environment, course our current market of confident be rate Synovus the our and as of portfolio we recession. the of of the and interest the the uncertainty, or factors trajectory control outside growth in next But is always be Of feel will political investors. timing
was EPS slide and up quarter. for diluted from ago. quarter X.X% on beginning previous the Diluted a EPS the was $X.XX year same $X.XX financial highlights. X.X% or up On cover from $X, Now, X, $X.XX adjusted or I'll basis, an the our period
EPS million investment with securities, FCB associated of loss merger-related acquisition, the sale Adjusted gain equity a of $X.X $X.X the $X.X expenses on and private in on million. excludes million investments a
quarter Loan and our strategy loan to runoff in our both deposits meet continues higher period-end slightly of expectations $XXX during pricing or Period-end which declined effort resulted X.X% remix cost and public CDs growth funds. with million growth sequentially. to of the due
reflected XX.X% to in increase our also quarter. rate tax XX.X% an compared effective results quarter's at This last
five trends the From our a quarter points. to declined XX a basis NPA modest credit as basis perspective, our ratio continue points, very to improving were points the show while from basis key metrics XX charge-offs
Florida have more the grown continue marketplace. our cost associated estimates, step overall our the merger with Not our only with ahead expanded the momentum of and of FCB well integration. quality each in original we savings to pleased in completed apparent Benefits with be production but are
efficiency Our year-over-year. The was XX.XX% in tangible year the XX.XX% very quarter of improvement strong. XX.XX% basis ratio profitability XXX to remain points also adjusted an first a metrics and compared ago
basis the ROA year-over-year, ROATCE down XX XX.XX%, adjusted and the year from Adjusted up quarter was and points prior basis five quarter basis points same our down points last while ago. X.XX% was quarter XXX from from points three a basis
steady categories. loans, X.X% a across to across driven quarter, all total number of markets and sequentially C&I X strong and continue $XXX up $XXX loans or slide increased and contributions was million million our show growth, by teams. loans broad-based this continued to Moving
positive see increased $XXX consumer We to which continue million segment quarter. in the the in trends
represent mortgage, partnership were million see growth loan pleased portfolio. to Other HELOC, primary product this We categories which Lending balances partnerships of across total our the rest grew consumer including card. also credit includes our our $XXX currently X.X% of and lending quarter.
by million. which hotel quarter combined the million centers multifamily investment $XX combined CRE shopping loans $XX million, primarily and increased a properties in office the loans including warehouse declined second a and while growth and grew driven $XXX with
our and and guarantees. primarily well requirements, job loan-to-value population are service continue properties markets growth, which growth. in properties strong urban to outperform income southeastern perform in national These to continued underwriting of trends growth, debt income-producing which positioned Our coverage, a have include reflection very standards
to deposits, and decreased quarter. period-end total first million compared annualized Turning the to deposits X.X% X $XXX.X or slide
decline which increased resulted combination and million growth million, a quarterly public deposits $XXX.X during respectively. CDs from transaction actually by quarter, the while million declined $XXX This core of in and both funds $XXX
maturing our in deposits behind indicated of mix. lower costs we the have merger deposits we and us, The deposit $XXX on As duration growth partially and replaced at decline million shorter a which overall with was rate. FCB of previously brokered closed keenly and having the are managing by focused these merger CDs offset largely
million pleased an very XX.X% deposits average to were non-interest-bearing this public was in continued DDA We non-interest-bearing growth up see $XXX quarter. funds basis, sequentially. or On excluding
Our private have to wealth markets. and building bankers retail success core relationships great our community across and households continue growing
across the we is we liquidity of account of checking our XX% loan-to-deposit targeted company. evidenced X.X% the second quarter, well-positioned in consumer remain well from within a our which ratio growth range. saw fact, In Overall, standpoint as by
was including the the slide nine to $XXX.X essentially basis the down XX% previous interest or million interest accretion margin points the purchase Moving quarter from quarter. quarter largely to net for due net X, year-over-year million the income merger. X.XX%, impact of first The accounting FCB from $XXX flat up and was compared
of impacted and $XX $X.X Net million of premium by loan margin deposit accretion favorably interest million income and amortization. were
interest core basis adjustments, down first X.XX%, of points Excluding the the accounting impact the from was purchase quarter. net margin XX
earning largely well a sub maturing effective and interest the re-pricing debt first in total full quarter and point point basis deposits regarding funds. consistent with margin from drivers both for The an in line excluding our basis in expectations costs was what in communicated with net yields basis a in quarter. as the decrease PAA of of decline These the outlook. quarter issuance cost as by loan The last NIM the the increase eight our point impact CDs, and cost asset funding side included in driven we time of liability in impact a increase quarter increase specific XX three the the of yields from were
larger-than-expected XX-day treasuries further both the and full the our Q&A year regarding for NIM LIBOR our this quarter during decline compression in a provide core quarter. market drove yields guidance going decline the session. the security However, to expectations overall Kevin's during loan and to led and in in
equity $XX.X slide X to Turning second Non-interest million or XX.X% favorable and income the income up same investments to of fair mark was ago. included well million, quarter, $XXX,XXX compared fee a compared $X.X $XX.X the private and prior quarter million, period as year to million last $XX.X income. XX.X% $X.X Total securities non-interest to the versus in a loss. as or value million, quarter a
$XX.X million, service of due seasonality increased XX.X% or The additional million days XX% banking $XX.X Adjusted in X.X% compared the or Core to resulted first million charges and $XX.X increased three $XX.X non-interest million, quarter. quarter higher business and from of the increase fees year-over-year. million $X.X sequentially. to income or
under management up the the asset last over client our million same or Total revenues period $X.X X.X% advisory success $XX.X brokerage $XX.XX continued insurance financial the Fiduciary of acquisition efforts $X.X million was in million X.X% reflecting increased of of billion, management and sequentially and year. XX% or team. assets year-over-year
transactions to wholesale markets demonstrated predominantly driven growth income basis. of quarter year-over-year in bankers South significant sequential As $X.X and from both income our was you million capital tied the can on see, This the in substantial is contributions by derivative and Florida. customer
strong up The $X.X during second Mortgage or very or were included years. while driven also Mortgage $X.X placed results XX% sequentially numbers quarter, revenues the certainly from And million also year-over-year. environment production. we $X.X we experienced quarter mortgage hiring quarter talented was on several revenue the million million the of the would extensive favorable in and rate company. our production point last helped producers overall higher by to our XX% this effort
million mentioned last lower X. $XXX.X quarter expense this merger-related some Turning were earlier, Total expenses to million. the as $XX.X of quarter. reported there million $X.X I slide non-interest than much And continued was
additional prior On from higher expenses an in the of increase second by large basis part were resulted additional higher versus of $XXX.X million resulted to levels The in factors: quarter. production, one a million commission higher Employment $X.X in of due adjusted expenses X.X% this day $X.X expense, non-interest or to the which quarter. expense salary compensation number $XX increased due million from quarter and in expense million,
was which quarter. items taxes, expense second these by $X.X seasonally employment employment-related lower declined the offset partially million in during Growth
million, fees in We in and associated portfolio as increase processing with expense initiatives. had servicing third-party a consulting million $X.X increases as strategic from partnership well lending technology of also in planned $X.X our primarily fees
past while X. NPA respectively. XX points basis improved both Past basis greater in our The to Turning slide days two The graphs dues and declining greater and continued points. dues slightly credit basis metrics. improved NPL XX XX points ratios XX to XX to were illustrate points, than days improvement basis than
Net million, X.XX%. the quarter at from charge-offs for The and were the for charged-off. to XX points at the Provision was XX NPLs allowance of from ending at ratio $XXX,XXX quarter quarter. one in ended remain increased The quarter $XXX.X down which or previous charge-offs $XX.X acquired expected point loan impaired $XX.X coverage first million been basis NPLs the basis for strong basis ratios declining loans points. XXX%, has losses XXX% expense the net million year-to-date with excluding the excluding loss reserved
Moving to XX. capital slide on
slightly five increasing points and ratio ratios to and increased the capital X.XX% the Our CETX during ratio capital basis strong XX.X%. to with increasing points quarter risk-based all total basis nine remain
intend share completed repurchases, an and offering, $XXX we X X.XXX%, the from an to X. thereafter, it we Tier million announced corporate to is E raised new $XX $XXX use we in important note additional July not million in quarter, at which priced this Series repurchase closed new quarter second results. transaction including million. under additional in It's in financial to authorization increased we million Preferred for for our capital the and equity potential qualifying $XXX the our which included Shortly During announced a purposes authorization. that on share Thus, general
said, do and general largely of a authorization we of repurchase expect growth, additional conditions. the XXXX. XXXX throughout it That economic to and extent the today, during stands as current market timing environment, loan be will utilize activity share The repurchase function
of end XX% Given current range lower of X% CETX. stated to risk comfortable the operating our profile, we're towards operating for our
Moving to slide XX.
environment an that towards provide the our XXXX, considering the we year, full it's guidance the As review and midpoint remainder appropriate macroeconomic we the of other year rate progress the factors. when of update for reach and
credit From standpoint, continue in objectives environment the it to confident feel reach our favorable. the remains balance year, today, opportunity the we the sheet and stands loan to and credit as for growth
and funds in to of efficiently X%. of levels, see manage we range as However, growth we'll liquidity deposit it's cost likely X% that the
expense make FCB that we associated talent our choose savings investments markets. cost remains or regarding any offset Thus, unchanged. key incremental with expect new to also our growth will largely We in guidance
From based a interest of revenue on perspective, our rate original environment flat a throughout assumption guidance the XXXX. was
full year revenue that We the XX% estimate growth effective X.X% full curve, initiatives. would lower X.X% expectations, our tax certain of estimated be forward our along completion with to the at we will related rate Given to assuming be our year previously growth the end tax of XX% current for range. credit to
capital of magnitude rate We a initiatives will than projected. originally benefits the these for in intend half have likely the complete year, XX% resulting but to lesser XX% the authorization updated in our updating to year. And the tax the our XXXX share accordingly. at in second to be we're we XXXX our on accordingly repurchase guidance And guidance we highlighted of light increased as in for slide, just
closing I would and share our and We stronger transaction the capital neutral want the a our and profitability When for and a growth FCB plans. diversifying on products announced and enhance elevate through said we the said would future thoughts, last few Florida geographic capital distribution profile presence, we we returns to risk line our profile questions. reduce this the year, a acquisition it of larger position have complementary open before our impact footprint capabilities. and addition by time
of and that that past potential excited We're was group wholesale generated we the what led banking in team as wholesale more prospects region. they the objectives deposit capabilities to making we're banking substantial increase our This wins quarter, income extend our noninterest-bearing and in customer FCB in early progress broad most growth of key a the evidence derivative in growth. achieving customers and provide steady those and about
accounts little of alone. And two period XX XXX months generating top under credit for our in nine branches, card over conversion, were within new FCB a production since branches legacy that
our Florida optimism extends footprint. beyond But our
significant Our XXXX aligned for and to momentum team across the track newly loan teams. middle and wholesale senior CRE, banking specialty growth market, build housing of finance half in continues diversified is on second
presence Atlanta We and banking next expect in our to we and solidify Orlando. to also the community Southeast. branches six markets further year, retail continue to eight new in the over open like And opportunity high
increase business small almost which seen Since of openings, products of support relaunching growth our in new card going we've rate fee the in in consumer continued will account October and credit XXXX, income a XXX% card forward.
needs. we've focus capabilities year-end growth We our team have in to new varying installed drive of to treasury renewed new high as and financial our energy mass poised wealth offering and also better our We're this launch to solutions business. affluent by clients line in leadership with payment potential promoting
through to across rest our the And evident that accelerated we our we're in adding an income were businesses new producers and mortgage, year. continue expect this trust fee trend and brokerage, the quarter The fee advisory results at income pace. of
truly that committed of advice to solutions our and our of on around to I the strength win brand and most bring incredible XXXX second ability but of the each deeply driver team, customers, relationship the to half our entire our customers. made go talent and communities up financial beyond other and important centered our optimism on, is of of our in could to proud and banking is
we'll operator, that for With floor now open questions. the
