Thanks Curt good everyone. and morning
Turning loans to Slide approximately average decreased X, million. $XXX
higher with record As its from driver Curt Energy as mentioned, capital loans We markets mortgage biggest expected quarter flow would in the due national stymied oil and chain notably resulting however, improved which begin are first dealer volumes. have prices chips, issues, was activity. high production. the declined in in decreased to fourth computer lower purchase banker, rebound most to cash supply had quarter; the
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discussed expense. costs, million pension non-interest in is in performance $X included which other investment in has an resulted last strong quarter, reduction As XXXX in
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an ratio shown a to Our increased CET-X estimated on Slide XX. XX.XX%,
an As dividend use regard, to always, our our providing shareholders. a In our yield. return this customers very attractive while our have to priority maintained to capital we support and is competitive growth drive
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quarter our to the second to relative Slide quarter. make of We significant our expect the CET-X first strides toward target XX XX%. outlook for provides
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current dealer and to to levels are cash national capital loans are strong to as oil supply as demand trend driving remain continue markets expect decrease declining are higher combined issues. auto inventory on energy challenged with flow We the by expected prices Also, improved activity.
repaid the be second however, by forgiveness PPP we and as believe pick loan towards bulk of the up year-end. the to far difficult is should end quarter will As loans, predict; it
grow loan year. based economy PPP This the pipeline half of lines business that nearly robust in we across should on Excluding strengthen. to is and the all will loans the continue believe second expectations our activity,
expect remain start We to back the second deposits customers cash half as work. strong put benefitting are in to average stimulus. to from These levels wane latest of record the to the quarter expected federal the year with
adjustment As aside, second That will including the we other each quarter are net other far recur. the quarter. all PPP, $XX in offset factors, in first residual the interest as income, lease million to expected not took
lower from a modestly portfolio. be on headwinds offset example, yields For larger by should securities reinvestment
the to the roughly yields on expect offset year, non-PPP second we be pressure securities by maturities As move swap growth. of and loan into half we
to lower addition, PPP fees a volume headwind. be loan and expected In are accelerated
Of is and in to predict difficult Credit PPP expected course, variability. is activity may result remain quality to strong.
on path, move the levels. our economy allowance the expect should current pre-pandemic remains we Assuming towards
lower related growth stimulus in increased tax income in more to We from warrant from repeat. recent activity as expect be generation. syndication reflecting levels, fiduciary activity This higher decline well deferred quarter. as income a than to Also, annual and assumed not as by comp is well first non-interest the is following and in card second income fees expect seasonal to the expected which business offset by growth in driven benefit elevated quarter payments, new fees derivatives as we
progress fees growth be growing merchant individual a by year, we however, volumes benefit As are expected through stimulus should customer-driven lower to government be due improving absence believe fee categories could as in offset more conditions; headwind activity the corporate payments. card card with we from to the general than the economic further and of
second expected We lower the comp well expect stock quarter. stable expenses payroll expenses taxes, with quarter be and in Salary partly as to decrease benefit to second lower in are as well expenses. in a one higher expect offset as Offsetting day. tied by additional and merit fees, card rise and outside in decrease, annual we to growth this as processing occupancy seasonally marketing the
year, by higher of offset As spend. far expect our as second on the half maintaining to focus we tech expenses the
line due revenue growth. certain increases expect to items we in addition, and In seasonality
restart indicated repurchases second I quarter. we the previous slide, to in as on plan share the Finally,
back Now to I’ll call turn Curt. the
