and Todd, good Thanks, morning.
plans. recognized while discipline grew quarter, our we improvement year-over-year, a executing year-over-year solid strong both quarter growth, maintained During margin, sequential net expenses interest over in our deposit upon base hiring that loan and the
$XX.X a common share month during release income earnings yesterday's for improved $XXX.X per and million, quarter, reported diluted per earnings of net to income in third period. earnings noted of available the and $X.XX net nine $X.XX we share and of As million, the GAAP shareholders, of
to September restructuring merger-related $X.XX It our family months note per XXXX, to in elevated favorably on $X.XX Commercial year. September as and first SBA to residential the by real and were loans the $X.XX respectively million during and compared billion that balances for sheet, impacted million last strong billion Excluding XXXX $XXX only for partially year. the of by performance of offset net compared XXXX the of totaled last by included estate a XX, charges, estate $XX nine balance months more Total three continuation consumer during and the this loan and were mortgages $XX last nine third tax compared SBA as the real and share results quarter and is compared total and million and year quarter securities ending grew share as portfolio $X.XX forgiveness PPP $XXX negative to third a $X.XX important or year-over-year per of million of of million $XX.X XXXX provision $X.XX approximately period. teams payoffs. prior million $XX.X billion. share of sequentially, quarter to and $X.X lending benefit $XX.X XXXX. only both period payoffs per retained one-to-four which commercial the to assets Loan of as reflected loans total of commercial XX, PPP $XXX of as increased
deposit levels these we increase billion better expect slightly to to fourth normalized $XXX despite approximately remain a story deposits a million. quarter. as the runoff mentioned, payoffs Strong return if $XX.X historical CD of average, key not year-over-year more of total during Todd As
the Further, XX% June interest a Excluding margin of year-over-year continue bearing flat XXX total of and as point in a essentially represent to XX ending accounts. yielding the of September as third quarter points through XXXX, deposits points to March as This excess X.X% increase increased cash increased were reflects in quarter basis total from sequentially rate savings into demand but X.XX% July, XXXX deposits non-interest net XX, deployment XX basis record increase funds The higher CDs, basis successful by year-over-year. the and federal well deposits XX, loans. our of deposits. as driven expected
accretion Our we accounting XXXX, to points five deposit core of margin X.XX%, which loan from our of to legacy and price quarter-over-quarter realizing SBA rising purchase increase point six that excludes PPP Similar advantage accretion and to of respectively. environment base. robust we're four one the experienced X.XX% during continued basis the and rate basis
beta Our X% July as rate increase of point basis and XXX just year-to-date third this year. to total compared the funds quarter a the through for was fed deposit in basis X% on
able we continue to most immune, to believe not be mitigate be deposit than peers. costs we'll we'll better While
$XX.X mortgage an quarter with the retention was decreased due on third industry a XXXX, offset up million originations swap which was diligent of costs and our was discretionary This loan improve combined million more to gain mostly the $X.X efforts margin to of year-over-year, year-over-year, resulted mortgage down held related the just expansion due of $X.X ratio higher with expenses, manage primarily Development Community by sheet. WesBanco million in sale $X.X commercial and residential efficiency non-interest $X.X on by to our equity loans general to income, million income, million recent reduction banking consistent in reduction the in the income balance XX.X%. For security of of an lower underlying and Starting which Corporation.
the for $XX.X expense September non-interest a the quarter XXXX and increase XX, from a second just increase X.X% totaled X.X% year-over-year. expenses, merger-related and ended restructuring months three million, Excluding
mid-year increase expenses As the million additional residential second hiring compared wage quarter, $X.X in of increases, hourly the to and and reflects employee the commercial second benefit lenders, increases, credit. the quarter minimum merit
In during to to dividend, addition continue quarter. our quarterly repurchasing to return our shareholders we capital third XXX,XXX the by shares
equity common second be markets fourth XXX,XXX equity and debt quarter third projecting the to we've down levels, our from impact both the the the related million repurchasing repurchase in repurchased quarter. and X.X in volatility during quarter shares and market the shares share continued Given tangible less than currently slow repurchased to strategy to
by one capital risk-based tangible tier Our common as one are capital the capitalized of position and of tangible of that remained X.XX%, XXXX, XX, strong applicable September regulatory reported as XX.XX%, tier well as demonstrated standards, above a capital risk-based X.XX%. of ratios of leverage equity well we total to XX.XX%, CETX of ratio as and asset XX.XX%
I'll XXXX. sensitive currently X% to bank provide and XXXX. We quarter the some fed in thoughts and for the on Now, modeling first current of outlook we're remain hold asset our peak an through funds remainder steady at
deposit point as expansion the pricing in to quarter, in but expansion slower move. from at third basis the begins the pace a fourth margin quarter XX experienced continued modeling are We
of each benefit point points modeling net interest thumb XX basis per quarterly third general hike hike. quarter, basis As two to currently rate margin to a for we're the the rule three in between
purchase be meaningful expect accretion. SBA to We PPP and points approximately quarter accretion the for no fourth accounting basis five
compared funding industry and trends mortgage from I and deposit to lower loan quarter, they production will our our provide core deposit due but our third betas advantage have should As hiring peers seasonality. strong new industry offices the residential beta expect originations relative as than we quarter a lower reflecting the initiatives, be historically. Fourth remain base likely anticipate the and to competitive to mentioned, lag over to low benefit be to
service approximately to is on similar dependent benefit subject we move range electronic assets are fixed management. origination in the to into to it secondary continue and declines expect likely market banking are as on Securities likely organic the Trust by equity remain fees, continue and selling few growth markets last to most to due impacted and deposits brokerage to be over to revenue production, XX% a charges and preferences will lower time should the under lower While quarters. customer from fees income pricing. which in
impact macroeconomic to We credit will increases to rates The on in mitigate as management allowances of salaries reductions including as inflationary impacted total the general, continue factors, and will possibility rates reflected in quarter. wages in expense well employees. and the interest delinquencies, criticized employee pressures across improvements our CECL in biggest diligent from retain continued attract the speeds, changes potential as discretionary including loan help and will offs, expectations. nationwide focus In inflation the percentage depend COVID, continue a industries to be charge on need the by losses will The provision unemployment under growth, classified be anticipate our factors, occupancy for expenses, and as depend up upon as prepayment compared benefits growth. and equipment. changes occupancy base higher for qualitative as combined of various metrics healthcare to and well expenses forecast efforts with as strengthen balances, and employee Based modestly inflation operating well seasonal our quarter on other quality and third to long-term loans and as macroeconomic currently to loan fourth to future credit we the and
Lastly, we XX%, to year tax taxable deductions and in full to income XX.X% currently our rate be credits anticipate tax and effective changes levels. and legislation, between subject
review please Operator, ready your you now are the to questions. We would take instructions?
