third the of within Slower with This million which in line On highest growth again loan with CRE of of quarter-on-quarter. consecutive basis impact Slide I’d payoff in the reflecting community, segment. and million fifth C&I, first which balances in CRE Thank wholesale represents quarter. experienced quarter from excluding $XXX the XX%, loan loan medical levels on business. annualized increased growth, quarter led billion, payoffs ended of With a relative PPP, loan broad-based a production CIB annualized to our wholesale, function as year by you was rate slowdown of growth Once represent begin the levels sectors, $X.X X. to credit seen once loans. at this paired the of those Growth Kevin. Total of was growth like and by of quality contributed by velocity. multi-family an this CRE, to billion. $XXX contributions business growth the $XX approximately a the growth. property was again, consumer with was the led Growth the growth was regards led to half double-digit of
mortgage commitments growth. end equity $XXX quarter approximately million C&I loan from at to $XXX the Consumer the utilization second home contributed driven million and quarter-over-quarter increased addition, by In balances lending. existing of increased
party remained quarter over flat loan Third quarter. consumer balances
we complement third we As overall as opportunities. our a we support portfolio within redirect paydowns to sheet leverage that we’ve to portfolio previously, to and forward, party as positioning, our balance means look consumer our growth expect core communicated
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continuing over on both be remains what should control, of for the can and stakeholders. new deposits, to value business and initiatives we long from all existing is that relationships work the focus basis for to Our grow creation term our which
September. rates deposits As third XX% to for equates which at of interest X.X% to is a to month quarter we average XX% XX which the we July points for to increased reached estimated pace recent attributable levels. cost for approximately of of current in previously average deposit of That of re-pricing. deposit an basis total be compares X.XX%. deposit than September, this rate deposit our the scenario the look beta of variance to in average in month rates, rates This a and the The lower cycle the for associated using hikes beta the lags in total appears policy existing
unprecedented cycle, pricing, tightening total an the if XX% pressure this the policy range expect for continues the for FOMC on is uncertain X.X% as deposit creating is upward and would XX%. cycle by beta to further it While the dot plot, rates, to deposit rates of the environment recent in we area tighten implied placing on some to
XX rate strong served continued interest Now significant came third in the margin of pricing, Slide the in second X.XX% income, points growth deposit The to quarter, The net XX% basis which interest loan of interest growth quarter. an third increase year-over-year from support in in quarter net quarter-over-quarter. XX% and at X. million, combination to $XXX of increases was disciplined an increase or the
yields in of partially by XX% loans costs. deposit the rate. higher than now are offset loan term floating NIM short shown rates Higher the loan of and waterfall, our higher As greater boosted were impact yields funding as wholesale
timing of policy, will the of growth. re-pricing, impacted loan NII we growth be forward, As interest by the look rate deposit and pace
sheet and balance X Slide as quarter and shows million million, past We hike expect cycle. long up million we $X revenue of end $XXX by re-pricing previous adjusted this rate year-over-year. expansion non-interest to be NII $X down driven total from primarily move the
act strength volatile and This continued core residential such source depressed wealth X% highlights decline despite a the a markets year-over-year markets. within XX% revenue non-bank, based equity depth of of streams revenue a capital the the revenue Our in Notably, our as segment wealth and family and grew environment. wealth diversity in the trust office. non-market areas banking relationships mortgage stability of in and despite fees as
wealth is addition, pressure clients’ from QX liquidity evidence benefited of term movement in fees investments on short put non-bank has term revenue as further In This into from deposits the short such generated repos. alternatives. from
X the Moving Slide of $XXX member million, X% which million year-over-year, on $XX adjusted to prior represents and attributable increased performance $XX of year-over-year, total primarily impacts increase. and expenses, XX% quarter non-interest a up expense additions. highlights elevated up Employment incentives, merit, million from team to the expense
minimum such previous quarters, increase and is segmenting and in other in compensation increased to annual additional This related performance-related majority an CIB when wage of business $X attributable mentioned fourth to in year-over-year approximately in the will per increase $X As and we hour. result and the spend earlier, increased changes of costs of as expenses, million million. the our Similar quarter spend $XX to Maast. new investments initiatives, the growth
associated to expenses million million the fourth to with growth $X $X these new infrastructure initiatives increase and investments quarter. expect in We
efficiency our investments. ratio is that evidence managing making while expense of effectively quarter we third these base XX% are Our strategic
are Moving we or our The levels quality, NPL overall performance million X.XX% remain NPA on X.X% the and In and was was lowest remains or and near years. stable second at loans. the ratios net X originations quality $XXX the ACL of low our historically to rate for representing our Slide strong. recent recent credit at credit quarter, X.XX% quarter, of credit ratio respectively. charge-off seen and X.XX% the in charge-off The have
ratio remained quality quarter-on-quarter Given the reflects outlook. of flat. economic increased by a continued million portfolio ratio loan loan ACL strong offset the ACL the This growth, more negative relatively elevated the $XX while
of Although believe we impact metrics, loan environment could economic we the a confident in do that strength portfolio. challenging composition more credit performance are and the
and diversification several targeted across lend. emphasized been facets sectors and commercial which we and industries in have We the selective we in lending of our have and specialization lines
potential portfolio well for consumer our positioned underwritten Lastly, prime focused, is conservatively a downturn.
ratio As Slide remained relatively noted at common XX, stable on the X.XX%. Tier equity X
earnings core the highlight prudent fourth managing is which to quarter, with into generation, the quarter which would capital stable result ratios I balance back Within supported our of our of capital X.XX% near established our is midpoint diligently largely this X.XX% targets. redeployed our range, the capital a position sheet focus growth. consistent is evidence consecutive internally robust that of on
will the growth in within expected growth prioritizing The Looking capital ahead slower deployment the upper to the economic light to of in in of expect Kevin. believe I’ll likely remains turn focus toward capital we quarter, share further to not do environment, result fourth a CET-X our of our the half core we further the pace uncertain it supporting quarter, on our loan opportunities. X.XX% our year-end range now half in XXXX. of and, QX X.XX% this range. any upper sense repurchases In makes to position over back similar
