Good Curt. Thanks, everyone. morning,
Turning to X. Slide
of volume. refi increased compared a over combination the $XXX seasonality average strong and to million, quarter X% reflecting first Mortgage $X.X increased quarter. billion or Second loans banker
Loans our primary in also all geographies. three of We to X% growth in drove market estate over increase middle developers, with primarily real commercial increased. of loans Texas, an across also general
to market, customers $X.X softer higher loans Total in by middle billion fund banker, utilization part line Growth due existing in balances mortgage increased led services. period a general primarily of was markets. energy capital result by and end equity
was in This minor points. portfolio. mix basis residual shift X LIBOR decreased from a leases, value impact two of a a and with yields lower the adjustment hedging result loan a of combined Our
X with growth, details funding bearing as Slide the normal provides stable, Coincident acquisitions cash were line our from balances. growth, in on declined loan noninterest capital with pattern. deposits seasonal have progress. balances customers their expenditures which is Average are and core
a As into expected, we also saw interest-bearing mix deposits. shift
In our addition, cost low added broker for growth. we funding deposits which flexible provide loan
with comprising mix deposits total. noninterest of deposit Our remain very the XX% bearing nearly favorable
the standard guidance on our in We In XX we deposit provided, made points approach and we the line were relationship to deposit March. pricing. remain pricing with basis focused costs adjustments reflected manage
expected on move funding of year, few on costs rate landscape. requirement, a down basis the or deposit points, company to depending and short-term For half up the shift, are second mix the
the you can trend see continued the on Slide yield up. X, to portfolio on securities As
of of MBS million yields to has contributed paid at we income. quarter, the down. pressure, While on This yields purchases under incrementally securities benefit were been $XX the with at net able first end securities make than have that repositioning completed the we the interest higher combined
rate environment impact had duration has premium relatively the unamortized or portfolio. on current The our a of not small significant the
expect a for the of at yield environment, year. we remain remainder flat securities to the Assuming rate level the current
Slide decreased Noninterest XX income interest X. declined $X to basis points X.XX%. million net to Turning the and margin
the Higher already loan which million. basis and specifically to by loan lower portfolio one I the Our the had book Altogether, points to negative X $XX and added was discussed. added growth yields additional million offset margin. contributed on This $X in the X margin. a basis securities impact loan the quarter portfolio $XX partly points yields, loan million, day
Higher combined loan growth program had pay as well or costs needed the higher bearing X rates, basis buyback higher million to point support impact X $X the with Deposit wholesale margin. and our $XX or were interest impact increase funding points. million share in which to a basis of has an deposits as
Credit on higher In remained from and the than X. combined day quality needs. net summary, the as rates growth was loan funding more shown the benefit offset additional from in quarter one strong solid by impact with Slide
at XX is of historical which or end basis of our $XX points. was the points, to basis norm XX charge-offs XX lower net Our million
basis Excluding of the for only energy, were points. X portfolio net charge-offs remainder the
charge-offs we total than a loans, a assets do the weak to higher increase by market. energy valuation quarters, as was were see and gas this few specifically due energy liquidating select trend the impacted were recent of volatile capital as on the prices impairment not and While oil
have semi-annual We and process our are believe substantially completed our redetermination appropriate. reserves
$XXX XX Total loans remained our points low basis or nonaccrual loans. at total of million
provision energy in declined for increase the the million loan resulted as nonaccrual the the the discussed, total and of which of expect and $XX be of additional a from an total reserves I will year in million. growth combination approximately A that declined. There loans small was of per X% loans increase million loans Excluding Energy the million X.XX%.We end. loans reserve loans a of $XX $XX less quarter. to quarter million than criticized in a energy, represented $XX remainder for increase $XX ratio criticized
Turning in the to incurred securities loss Recall million of income quarter, $X on noninterest the repositioning from first Slide portfolio. X. the an we
Excluding higher this service income loss, fees Fiduciary due noninterest annual income volumes. mainly increased $X and to million increased market million. tax $X
fees resulted continued on increase. in million $X Our growing an focus card
of small and including a $X life increase credit. letters in in insurance million had also other several increases owned bank We categories,
I well million were efficiency below were a quarter. shown in asset decline and $XX This deferred Expenses Salaries day. $X the benefits dropped remain merit as and XX. noninterest one was the taxes payroll in following annual returns, compensation XX% ratio in quarter and share-based first additional controlled mentioned. resulting offset Deferred decreased decrease the higher which that comps from well million than the offset Slide expenses first less comp and annual our $X partly by in as as raises million, in
to following Legal recovery of first in Also, a legal activity. the first $X seasonal initiatives technology revenue-generating million and previously outside expenses and increased processing Advertising million a $X costs increased expenses mostly from was increased incurred. low quarter. quarter tied
Slide the year-over-year returned XX. count our quarter, shares. a our second of we our quarter. In repurchased second shares share to XX%. total million which $XXX nearly On in under down Together basis, shareholders X.X program we with is dividends, million X% to is repurchase share the Turning
way have Our currently goal healthy well dividend over X.X%. a an return of shareholders buyback to of provide for by our yield which the as a is as attractive
Slide environment. to and XX the Turning rate
Fed economic the mixed, are been While has later markets rates the cut this data to expecting recent month.
Our standard estimated our on an deposit rate have to reduction of funding. different XX income over point for need will able model pace betas. million interest and to indicates with deposit will period. pricing couple XX-month at provided a Therefore, which depend scenarios $XX The impact competition net a basis the adjust we’ve we’re
well as add. which the any ultimate sheet as: a on interest loan the we growth balance movement, and may net course, outcome depends that for variety rate such interest factors of at a income moves, LIBOR pace Of hedges as
a the billion with Over added In an therefore XXX provided month attractive, March, in are program. we have tenor average rates years X.X an corresponding average X.X for program. not Current and of basis period, began hedges of we fixed interest rate the and points. downside swaps protection hedging rate $X.X we paused
progress our is strategy Our program in to make building steady hedging time. over
the outlook economic rate which environment our a June on continuation interest of and to as assumes current Slide of Turning XX, XX.
declines XXXX. in impact ends as far in X% typically now strong and full-year slowdown. loan Recall, back model mortgage factors changeover. seasonal year, average we growth the to to season this year. buying middle-market the well so Also, of drive with includes the in year banker dealer as adjusted can loan to expectation X% half This relative Given home as performance expect our a loan due summer to that the summer experienced
loan XX nonaccrual as solid and stable on to on fund year-over-year resulting full-year offset higher we expected shift expect We the remainder be now the share decline in repurchase X% a XXXX expect and the X% is increase interest June and LIBOR net interest debt as help income well be higher of of loan recoveries. to average partially The XXXX. by deposit our Based a from growth our of basis. deposits growth full about our costs, to as the lower year, funding mix for about program benefit to over
to in second book updated are the basis believe forecast to to change be adequately for the reserved we surfaced quarter. will noninterest points provision and for continue the our XX for no is We have in We outlook well in income. perform our that XX the to Energy the There overall issues our portfolio between full-year.
to stable excluding full-year restructuring we basis, our continue we expect a remain year. On charges incurred to expenses last the
of higher impact primarily from our as bank higher additional activities revenue-generating remainder in and see the well year, the outside as to as to investments far we tied related As processing expenses to retail expect the days. technology cost,
be related recently campaign brand end which In awareness, the advertising to an of through launched addition, year. we up will the ramping
may growth the a sustained, loan with in of end about XXXX. we of are ratio be XX% targeting Finally, that by possibility the the pickup CETX
As of needs we determine generation, will the carefully to expected condition. market loan pace buyback, and we fund capital consider our growth earnings our share
the call Now, back I'll to provide Curt turn remarks. some to closing
