morning, Thanks Ralph. Good everyone.
Slide X. to Turning
has First to first growth business in Fed quarter industry's years. commercial our With through the compared seen and the average positive quarter. growth quarter fourth best industry trend lines, loans increased based the quarter X.X% of the the average in outpaced the the we for H.X the $XXX the bulk of was loan million on one data was or which
to as well higher to expanded reduced leverage increased market their borrowing cost supporting positioned their as dealers base last capital downturn. demand models due bases to most committed and relationships. loan the of expanded quarter, added throughout and grew million energy who as balances our dealer million We the customers remain order as $XXX built and they are activity continued $XXX Our portfolio due reduced energy the well inventory customer CapEx. and XXXX Average of since generally have
the decline commercial of of primary fund loan growth, also normal well middle increased activity services. utilization end banker as well in $XXX in equity growth equity as three fund were retail our this as and year in XX.X% strong. pipeline with banking, mortgage growth Total banking, as geographies, strong US commitments the the partly following timing winter relatively We offsetting drove estate Loan stable and of sales. to general remains home services, slowdown in all real market million seasonal in was
in basis in Our loan yields increased points XX increase with the rates. conjunction short-term
declined average interest while were in bearing deposits decreased noninterest pattern. X, line on $X.X with bearing billion, seasonal slide deposits normal see stable. can you our As deposits Average
As period seeking through are stay Ralph other backdrop cash decreased relationship balances deposit business approach their to note, conditions, pricing. in impact. customers in February. solutions In billion best manage had we're securities. timing our on due of rates seeing a the activity is prepaid a goals. were business offerings We rebound consistent remain than focused federal to conjunction with our continued card and $X.X benefit to which deposits monthly government in our cash primarily use March solid increase solid and We rates, meet with adjustments aim which provide basis loan pricing mentioned, the and our $X deposit year we certain made XX close the started mid-March, categories. late and seeing to this investment growth, management of and financial points years. we in their in In with some short-term higher the economic balances deposit last their increased deposit billion Starting quarter. quarter, to to customers higher them with Average Of the first trends prior Comerica cost
are increase We points second quarter average well to interest-bearing rate range. year of as believe we the our moderate XX we the for the the expect deposit pace rest positioned competitively. of basis there in expected to From is be low
securities funding competitive trend rates, as up. continues course, well portfolio. monitoring yield requirements, deposits, our as we to X portfolio the Slide Of The closely landscape. on provides short-term are under our details
higher the we While in mentioned, purchases addition, first on duration the the four-year on to yields extend .In have result little able The a the we the interest in three was million yield the an at $X first repositioned income income net securities additional securities billion of will new of at end treasuries in quarter. overall contributing The portfolio, $X the paid higher interest under of at the securities years Ralph end under securities pressure incrementally as came of yield quarter. quarter, the on million will than purchase help were per MBS which duration that quarter. net down make to $X the
income margin to basis Slide while interest increased million, net decreased our Net interest to Turning X $X points X.XX%. X.
Increased days from loan mix the in the $X and growth. basis million book the interest a yields added one added to partly and benefit two impact with $XX the along and million rates points a on XX points This basis Our shift provided securities by largest Higher margin. portfolio the portfolio. fewer offset small to was loan margin.
increased As than income $XX Deposit a added of which by points pay Fed more far $X.X was decline billion offset rates, a Funds the shift to or was interest X in as balances. deposits, rate higher an as with impact well in as minor imbalances Fed points. X basis the had a $X which net rose net impact million The reduction together cost million mix basis margin.
summary, benefit combines increased days as point fewer the well on the wholesale as on senior and X cost short-term the was on This increase debt $X the far the million and million loan of Xst, from the impact margin. was lower as funding rates balances or in benefit by $XXX issued a basis had cost, with effect two $XX margin. than the at in rates, more points offset net X basis In February growth quarter in million Fed. the As
month, adding of our begun last to Conference, hedges. when asset gradually program we an indicated sensitivity we some at have by we presented As moderate our Investor
hedges. path given for movement, position the rates the sheet closely We prices appropriate for our and outlook to continue market assess and determine our our balance
have is current of XXX average So in of interest far to impact an years $X.X we've tenor income rate average expected points. an added be billion Based with rates, basis added the we nominal. X.X swaps rate net our interest swaps and the of on
found as Additional be slide Credit shown information remains XX. appendix. can on strong in quality the
XX at solid conditions as geography We criticized signs of loans end. vigilant, overall in net loans. resulted now declined X.X% stress. reserve quarter portfolio $XX closely our increased of the historically loans across ratio small and Non-accrual for the Our total reserve performance low slightly exposures and and basis loans very in monitoring from total and points. of X points Sustained, industry charge-offs release Total a a or a and X.XX%/ of continued low our comprise remain million of within economic basis strong levels only represent remained of portfolio our
However, noninterest XX. we at Slide not income to seeing Coming concerning on point trends. this are any
due to from million Fiduciary portfolio, $X of $X the lower income data financial million buyers. declined noninterest loss mostly the $X repositioning decreased markets million. Excluding income securities the
In addition, two card and first the quarter. as previously in impacted well days a as XX. by lower including remain typically compensation small expense the as Expenses including incurred. credit lending fiduciary stronger executive annual as of other result shown and Of increased less quarter. slide mainly controlled is legal discount the was items days we of legal are of Salaries lower stock Pension high by seasonally were categories income. result in recovery benefits note, changes income quarter card, and of declined in to in letters commercial the offset which Both increase partly of second these and seasonality rate had such incentives due business in several fee expenses other a expenses. in and included was cost fewer the which in
declines expenses. and and Typical cost several as apparent seasonality unusually was processing costs outside line repair maintenance equipment Software benefited occupancy. in advertising, from low items reduction and such in
Looking processing the and stock occupancy. technology, the lower by as outside of higher and compensation, partly well typically days, as advertising year, offset additional forward expenses reflect to rest expenses, merit
dividends, equity or repurchase quarter, our XX. shareholders. million Slide shares to returned the program. to we million total repurchased we X.X Turning X% In with under first Together of $XXX
ratio estimated to Our declined XX.XX%. CETX
We goals of the year. our CETX track ratio this of to by to X.X% meet of XX% on are end
capital We the generation, earnings pace the careful to and to share give determine needs conditions continue we market buybacks. as of consideration
Now us I back Ralph the XXXX. will turn to for to our provide on outlook call updates
