morning. Todd, Thanks, and good
loan During record expenses. as demand the recognized maintaining securities our positive over and record record brokerage quarter, deposit levels, well as fees, discipline quarter trust growth, while we sequential revenue,
balance look investments loan macroeconomic improvements growth-oriented And reserve important improvement for is sheet forecasts. and future well-positioned margin forward believe to make we rise. continued We the we and [Indiscernible] to rates our as in for experienced growth
noted release, reported of first the $XX.X available of yesterday's income million, to As common net per in $X.XX shareholders improved for earnings share and GAAP quarter diluted of earnings we XXXX.
personal billion. billion $X.XX quarter mainly merger-related $XX.X March real $XXX the important to impacted the million for these the throughout per decline Loan provision $X.XX Total compared forgiveness of portfolio to net share payoffs, was our share. a first ' quarter efforts totaling the restructuring and increased to to payoffs commercial commercial excess and of liquidity that to to as elevated to loan during the estate both tax included by mortgages decline customers $X.XX and of expected, year-over-year residential XXXX. $X.X XXXX continued favorably partially Excluding due to were billion XXXX charges, of reflected savings. as million, of assets securities family growth. per as quarter, XXst, one XX.X to as last first PPP more results keep continue balance of of total or $X.X SBA loan It's quarter as balances, XX.X% well by approximately note offset Total higher sheet, year. of the securities loans on Commercial four total payoffs real for first related negative we quarter and sequential expect continuation estate
the story real Todd this growth. sequential As was loan quarter the quarter mentioned,
portfolio and March loans increased and both X% approximately real increased from be As well XXst, in PPP XXXX, both quarter-over-quarter, of Strong growth and by year-over-year billion to total savings. loans XXXX deposits total commercial real December X.X% due loans. estate total compared deposits, demand $XX.X to as total growth excluding industrial, XXst, of a driven annualized Commercial deposit as in to PPP to growth loans, annualized increased continues as estate and key X.X% represent annualized. excluding story which residential commercial deposits, when increased, sequentially growth XX%
year. or first million now sheet to cost sheet excess year-over-year. interest use on the the rate the total $XXX assets liquidity the low quarter on to year. net higher impacted points our The XX more and basis basis represent basis X.XX%, XX approximately brokerage borrowings. in deposit Further, X.X% this primarily due and net non-interest quarter to from reduced FHLB including year-over-year, and XX% mortgage Reflecting to certificates reduce first continue wholesale as additional continued record XX% lower we points the to the income environment, strengthen $XX.X swap income approximately million XXXX quarter environment, in the XX% We trust mortgage was of from XX% to XX which due balance last approximately for points the XX% more was year XX% banking CDs, rate expect $XXX as total balance by a to balance the sheet. retained increased over general historical securities of fee with income which higher-cost representing to record million return residential lack sheet time. inventory, income range quarter, year-over-year margin XX% of held cost XX% lowered basis of refinancing Reflecting to liabilities retain rising residential mortgages and margin continued by income well for production fee interest borrowings, quarter, declined more year-over-year primarily environment Despite sheet quarter, amount as to balance deposit XX% cash mix Furthermore, to rates declined we've our our in total this last originations of by securities, decreasing which down XX balance negatively first the of during to of efforts rate we interest first originations on low compared points and mortgage to the lower shift the last the versus on the of quarter. interest the reducing interest-bearing
organic growth adjacent make to manage in markets. in of support order As both within new I mentioned, existing potential prudently expense we and appropriate base our long-term investments our
the recent fund branch as well For from production our to example, across hiring revenue-producing our strategy, our our optimization key efforts as personnel loan of markets. office we utilized expense savings
X.X% for XXXX year. Excluding to and at million of $X restructuring first less expense $XX increased quarter to million, the and hire new merger-related origination X% compared partially and that expenses, to Salaries or non-interest strategy, the loan costs. increased million, year, normal last the than the wages, compared $X.X hourly increase prior year, lower which deferred increases, implemented by we our merit prior reflect wage offset
compared down salaries day and in reduced to deferred $X.X the million, the and market linked from $XX.X adjustments fourth As count on expenses were of lower million compensation to quarter healthcare, due reductions expenses plan. pension,
are above we our ratios strong as the of the a fixed-to-floating maintain Turning level of sub-debt, million regulatory which rate continue capital capital. well-capitalized to capital, $XXX And standards. consolidated both public quarter offering bank with and capital capital applicable structure during as issuance the enhanced ratios qualifies Tier regulatory we well X through to
Our continue to increase through us allowed both first during capital quarter. and dividend shareholders solid return shares the the X.X position repurchase to approximately million $X.XX of to capital a our
risk-based available-for-sale on As the X of as the ratio leverage TierX reported AOCI. Due impact portfolio given rate, total common tangible by lesser which of basis common ratio assets XX.XX%, risk-based of ratio which rates, XX capital common accumulated XX% in up well-positioned, we X.XX%. held-to-maturity believe X%. approximately equity a to of losses portfolio. comprehensive of on X.XX%, equity our equity the XX% XX.XX%, rising unrealized of Further well is XXst, capital other tangible tangible We environment, XXXX, as CETX rate tangible of points our Tier to available-for-sale are or sensitive to portfolio, income, less portfolio our is resulting from reduced in XX.XX%, securities March our recognized the makes impact we to variable are of rising and
three thoughts the affect currently and increases We're to on industry-wide to between Now yields basis in meetings. funds subject modeling the and federal an I'll interest XXXX. some in near of outlook over the overall rate current increases basis the will remain XX-year rising We provide the treasury rate flat environment. relatively that the XXX the term, a remainder we expected spread point and see expectation of with XX two-year points next including Fed for our two asset-sensitive bank net current factors margins
deposit by Our GAAP off increases asset accounting margin quarter make second mid-year, net in to from $X.X flat remaining net lower interest of remaining years the forgiveness, that ago Furthermore, PPP to accretion rate to our the the is beta be rising the accretion base, fees yields anticipate accrue and accretion expected four rising and anticipate run remain betas and they would to rate in margin income. of to benefit historically. peers begin deferred environment million loan an deposit to low core earning been purchase funding offset have the expected to lower due this as we to PPP that improvements environment year, rate during from we We benefits some last the by the balance compared and lower our experienced majority including provide as roughly expect impact. similar
income scenario, than realized at Residential interest due XXX in new initiatives, static record net an hiring increases during intermediate loan rate offices scenario, remain shock production mortgage our basis models originations rate an to Our lower Alco the a point indicate XXX-basis-point and volumes levels should intermediate shock increase. but XXXX. while X.X%, strong XX%
the from banking higher selling fees, which continue into focus last and on management. we'll revenue our not deposits during few approximately expense brokerage in on diligent secondary charges from to securities we remain XX% similar Similar the the Electronic to most Trust XXXX, likely the and maintain industry, quarter, pressures growth. to market. continue a the should anticipate organic we're but discretionary rest seasonally will are benefit first addition, In as of service quarters. inflationary fees immune range during
and most continue efforts. make funded branch which through strategies, investments by expense our long-term will will savings of optimization LPO to anticipated the our from hiring growth We be
currently be quality marketing our will and under well credit as for comfortable people, rates other at balances, and potential Overall, operating in in during focus classified growth. higher continue offices pace will delinquencies, authorizations. and loans We upon reductions as COVID, expenses. criticized by a qualitative organic mid-year credit will investments inflationary industries pricing factors, of allowance macroeconomic charge-offs the percentage rates and production including continued the In annual the factors repurchase total share by somewhat to metrics, is expenses on factors, to unemployment forecasts in well possibility and changes the general as volume and on for spend provision a we're planning continue as increases anticipate loan impacted supplement similar during and mentioned, as macroeconomic to depend loan as of and predominantly subject current first general, consensus are loan depend various the including our relatively growth. future expectations. merit operating activity future our losses XXXX increases, to just improvements to Share pressures. expected in restrictions, CSL repurchase inflation interest range And The the with quarter, levels, impacted
effective be taxable tax tax we currently to legislation. between anticipate and levels. Lastly, in income Deductions subject credits changes XX% and XX%, full-year rate our to
the to you ready review are would We take instructions? now Operator, please your questions,
