the our comments follow-up opening impact months the provide some leadership to senior through Kevin, your efforts And and XXXX and to Many about line of later the Thank Relations want call. then calls Steve ensure coming walk Steve for joined Synovus welcome be Kevin the heard our seasonal of that a out he third have be I'll smooth any today. replacing Kevin by that his of to transition. earnings good usual, will the with They'll presentation able I both transitions and you, for jointly in brief Investor Adams XXXX you questions. and team, before as quarter morning, know role. everyone, take be earnings Steve us as will and I'm thank to working
while Our XXXX made summarize objectives. I'd cover a delivered toward this results But number economic of heightened core progress quarter's uncertainty. team strategic we've quarter in our this the through detail, like before past to I good period key managing another financial of performance again in achieving
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our quarter. in pay generated loan across seeing grows management and wealth off. income production $X.X The collective billion diversification markets, total fee each this banking, core And we're and importantly, stronger in team banking investments these funded level Most mortgage sources capital quarter.
quarter. noninterest-bearing nearly interest deposit million our helped margin achieved this revenue relationship-centric approach in our sheet, $XXX to balance net positive the and us growth of side other which the growth, On contributed manage
an On Turning the slide. same EPS basis, this or and ago. items from up to Slide X.X% diluted those quarter. a number EPS I'll X.X% or from impacting period of were adjusted for cover the year and previous was quarter, X. $X.XX the Diluted subsequent EPS on quarter down a was $X.XX adjusted $X.XX, There $X.XX a
Loan growth loan cost and deposits X.X% this experienced $XXX was to additional in quarter average continue $XXX expected. end steady during growth quarter quarter this declined of a disciplined Period as approach runoff we which funds, public sequentially. regard with CDs as or million million follow the higher to
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have slightly. Our declined metrics profitability
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of back buying program, this repurchase X.X million share our a shares quarter. total continued We
in a substantially repurchases now has XX, million can week, of And share completed our $XXX that authorization. we million September as of of the this we $XXX.X fulfilled. authorization under say total had As been
items. a results, I this Turning material to EPS EPS collectively more few to Slide reported Slide a of the summary of will impacted adjustments by provides the X quarter's X. which made $X.XX. reference
increase to acquisition. One our item point associated out first in million with to earnout The Global a liability $XX.X relates the
years earnings XXXX the X the outstanding to before, One Global Due included that triggered referenced cumulative business, of reached continued of recognized thresholds adjustments Global we've for of be financial now acquisition with earnout earnout in our are accordingly. liability liability opportunity expected that the material Any One payments, to associated we've performance-based to payments. results. earnout As an performance additional additional not and earnout the increase
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loans with to X.X% total the were our prior our expanded over loans. improving growth and nearly Total increased million evident and the both $XXX quality On loan average production X all or $XXX Production basis, X.X%. of and sequentially. very bank. commercial within Moving the an of We average funded of with business quarter, Slide loan basis was during level pleased or million specialty growth loan production by XX quarter $X.X weighted aided and was lines was points. teams up wholesale spreads across the XX% billion,
especially CRE properties where customers valuations. see continue Payoffs due were elevated significant portfolio, our to this we quarter, to within sell
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over is pressure covenants to we We fixed in new not pass the Although use and structures financing, involve opportunities. tenor nonrecourse that meet lending of quality hurdles. concessions opportunities rate aggressive that rate market return on consistently in and on do evaluating growth continue our evident, of emphasize
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of in credit and is partnerships, with billion. The $X.X consumer book Almost categories, and is other HELOC portfolio the in consumer consumer. mortgage the lending remainder cards the X/X
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has the been the across quarter both categories. and growth, Our year, all for broad-based
with population, growth part and into diversity also We've additional provide these benefits summary, in pleased positioned as be a portfolio, our and quality jobs to we're from slides the performance. which and economic of strong as visibility of well more significant appendix few portfolios. the we're of each the on pleased in been in wages included But that overall a country the
transaction and very million X was growth up sequentially. deposit Slide to strong quarter, Turning $XXX this deposits. Core
runoff, FHLB and carry we other of period including deposit continue the declining last sensitivity short-term and opportunity funding the of and reduce base quarter, advantage vehicles, to rates CDs higher-cost asset to overall see funds rates. variable As a taking heading deposits into while remix indicated which public advances, our brokered allowing we by to
quarter. $XXX million $XXX.X was basis, or average decline in second total period quarter. million end compared during and both and declined a these public respectively, declines, of to overall deposits growth $XXX million, million offset leading by in an from result approach, annualized total the X.X% deposits $XXX As or to prior CDS deposits in partially X.X% this an On of the the transaction decline quarter. The funds the core
transaction $XXX.X the increased category, XX.X% sequentially, accounts increased money while Within deposit noninterest-bearing million or core markets deposits $XXX.X XX.X% or million sequentially.
monthly X.XX% While cost, X.XX%, total and trends core to in X total X.XX% have cost, quarter declined deposits, from at the noninterest-bearing see given increase our rates that July point excluding you in clearly could to from deposits, the back steadily brokered And did QX declined we've X% basis peaked from that positive PAA, trends in in deposit time. for since experienced QX. third deposit excluding X.XX%
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favorably $X.X interest income additional second quarter million net million purchase up FCB compared to Net the was year-over-year $XXX quarter. to flat this Slide was X. from at due the up largely the impacted XX% and X.XX% $XXX.X interest second million, The merger. margin to or by was quarter accretion accounting and Moving
million accretion, income premium accretion and Net interest deposit $XX.X of by favorably of investment and million impacted $XX margin million $X.X of were securities loan amortization.
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with beginning deposits second fully As noninterest-bearing last pressure will quarter, both we movement downward the asset the rate earning as growth cost, overall that year We're and of stated yields. put in continued asset well in pleased cuts we additional deposit of moderation sensitivity. see on half to the our in as we're level expect in
the margin provide on quarter, last in anticipate additional margin relative during compression Q&A. further to outlook However, and now will given the Jamie between the forward significant Gregory we curve a changes color in do year-end.
million and Noninterest million, gain same up fee Slide both year down the period in favorable to million million to $XX.X and the a year-over-year. compared sequentially income $XX.X well income income noninterest included fair a X.X% quarter $XX.X was third X prior the million $X and compared value to Total increased million quarter income. versus Turning ago. $X.X $X.X million loss. million as Adjusted a mark to $X.X or as of private of $XX.X $X.X last and investments noninterest XX.X% quarter securities or million a equity
or $XX.X year. period or during fees were resulted sequentially of $XX.X assets card increased million Fiduciary the insurance million quarter. from revenues SBA X.X% X% management up and charges, of management banking of year-over-year. last fees increase X.X% million same XX.X% $X.X sequentially. higher and billion Core under $XXX,XXX or The the over increased Total gains million $XX.X $X.X brokerage asset and service
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loss expense million. million included we earnout $XX.X Total noninterest items Turning for adjustment the of $XXX.X a to quarter call, the was extraordinary relatively of versus on noninterest on adjusted the were an X.X% earlier Slide XX. increased number $XXX,XXX. These debt. of extinguishment liability expenses minor million million covered quarter million a $X.X and including at prior basis, the expenses $XXX.X On early expense this $X.X Merger-related quarter. or
were professional by were $XXX.X including Excluding $X.X tangible to million. $X.X a expenses amortization million that higher in higher number and by than due commissions of were expected million Adjusted adjusted factors, production-based QX and intangibles, last compared expenses mainly other impacted of fees. increased to were quarter expenses which
to Turning XX. Slide
our asset ago, You'll down this were quarter of to year X to basis small consumer, basis higher NPL versus see metrics portfolios. basis quality XX quarter points remain solid. Net our and that across The same points but points credit spread commercial XX business any a charge-offs from quarter XX the not ratio points. isolated particular basis and improved this class
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$XX.X expense gross previous expense The and million in in $XX.X quarter in million quarter expense $XX.X first the quarter, resulting for increase the provision was is of year-to-date from the compared million quarter Provision the $XX.X in payoffs provision to second keep acquired million. that on It's as typically releases would of helpful benefit to loans, that offset don't charge-offs provision. reserve primarily in from any the experience impact related production. timing and we we loan growth-related mind of to the
at the quarter, including allowance excluding to the for strong book to remained positions confident quality impaired points same portfolio our million credit dues which ending as XXX% NPLs continue pleased our for well XXX% million strong and X.XX%. losses We us as increased previous increasing commitment $XXX based $X.X of with NPLs page. loss loan expected quality X indicators, many nonaccrual such on coverage The loans past basis reserve with charged remain or stability We been to credit the off. we with for from future profile ratio inflows. the at this forward-looking of of The has to and the feel as factors, the our the credit FCB evidenced ratios by grow on the that metrics
Moving to on capital Slide XX.
We confidence capital our have overall to continue position. on
at range XX XXXX, of target to Preferred raised July quarter, end of the we of X, X% utilized our total buy quarter the third E low our $XXX risk-based which had increased ratio, XX.XX%. As incremental common our Offering, capital Series with we've We've basis a risk-based ratio to which X, back from and decreased qualifying our XX%. total quarter, the closed Since to this new quarter X totaling end points a was the X.XX%. total and increasing of count Equity largely consistent ratio in third capital $XXX.X repurchases on The new share decreasing the end CETX capital effect million reminder, million. Tier the XX.X% capital. shares by through January CETX with
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Slide XX. to Turning
Florida outlook, more franchise regarding the to address our detail a in South progress our the of we expanded little Central Before and want marketplace. I share updated XXXX
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continue Slide and growth morning XX expect on little outlines to the color sheet guidance we we in quarter. our fourth a balance provide metrics, this a original key end year. the loan From solid financial expect for perspective, XXXX to where I'll
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fall low that range. of could the deposit likewise For the below end reason, growth
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Turning to Slide XX.
we increase of in wrap we range from to impact wanted proceed on day we allowance XXXX. perspective, to the CECL the a provide comments Before by up brief adoption some the and XX% estimate conditions. we to upcoming expect X current the From due Synovus be Q&A, a that to X/X way, XX% impact the the loans. economic to another loan is impact to overall acquired of increase Said loans, given and excluding approximately XX%, to with mix of of acquired our estimated CECL XX%
accounting not guidance allowance At lifetime did the all representing the adoption, reserves, discount. time credit required will originated acquired of for allow instead loans. Upon fair an value but FCB day expected acquisition, Synovus on a X CECL and losses record credit
at ratios. to of commonly significant record Synovus avoid loans, because loans. allowance of a hit the acquisition, an a capital of large acquired avoiding gross majority and CECL able loans the to election equity accounting the up and Instead, the time on counting effect on sheet those we'll to will double a However, be made more referenced balance of FCB
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that Our date, target on of estimates been X the prepared while very loan hard could confident team meet adoption feel our portfolio at of working And change adoption. the on composition we're the date of factors has to for we prepare that CECL and based macroeconomic exist adoption. and the to January range
our year diligently growth and areas business expense this in control, core efficiency, lines. including on look out the can specialty close into to XXXX, we and focused remain we and prepare we as So management
win model the region, strong our the opportunities well expanded Florida vibrant in our in across to aggressively talent, we're combination pursuing While us capabilities of our very that Southeast. also delivery many the markets relationship-centric other untapped positions we're and confident
technology to are to improved continues in our communities team our better for investments building that create customer commitment back serving continued the channels levels, highest to long-term Above value a our operating we ensuring our at and deep investors. environment reach. giving and enhance customers our delivery experience and our broaden all, Additionally, the demonstrate to
line With the questions. for that, operator, I'll now open
