good Curt, Slide the everyone. month. this furnished Thanks, in were X-K Curt earlier morning, referenced, notable most and which items of an X details
indications from special we unchanged announced, to in expenses provided This related As $XXX previously noninterest December assessment. recorded the in onetime FDIC our update. million was
of in Next announcement The of for BSBY course the in change impact, to uninterrupted. These creep maintain portion hedge impacted a designated settlements swaps recognized key does not result our only resulted in The of the cash recognition $X to economic and that received is normal an the was our net accounting accounting BSBY the back a and remain losses the earnings. time recognition million. earnings pay $XX portfolio was will message noncash of from cessation of cessation on approximately impact billion loans. and pending portfolio the ability swap since that loss
value. impact flowed a of While tangible prepared note, Also did and further transition. ratios, operationally, well capital seamless we customer feel tangible not for our book perspective, regulatory losses they a from or to through realization common the equity
elevated capacity expenses, we efforts charges, being list previously million severance in investment. quarter will fourth signaled the power Third in noninterest presentation. create detail for and and $XX and were on We enhance discuss considered, were were more such later the which them future intended earnings in to
our offsetting in The results, provider serve not expenses. does Ameriprise income last investment impact noninterest platform our noninterest The item created line geography finalization to caused our decline line statement. in changes as a bottom item but decline new within income, with of a agreement
small not here because relatively late impact we XXXX. a impact While it we in in expect XXXX, larger
quarter items, in discuss I'm line to notable quarterly expectations, our impact detail. more Overall, to going Considering quarter in summarizes results. performed fourth excluding move the line item slides items. results with X to individual the those Slide of the
Turning X. to Slide
market sheet intentional fourth reduced of banking. million Muted commitments contributed rates the middle and Our full balance reduction Banker selectivity, The loans loans while business. of management services in that in reduced average balances. exit the corporate general and to returns, elevated due demand loans to quarter. prioritizing customer Finance equity half fund impacted almost year-end, and $XXX balances, At approximately in higher Mortgage average increased relationships remained and in
portfolio fourth second of climb and to higher strategically manage originations. from rates utilization, consecutive as and The quarter nature of declined loan but multifamily yields to projects rate commitments funding quarter. real loan the for commercial industrial higher continued Ongoing drive benefited construction pipeline as our X.XX% in commercial continue estate floating the we to
time general Middle $XXX for of Finance. Mortgage deposit highlights at Growth flat billion, reflects deposits seasonal $XXX quarter benefited Banker Market in deposit base. of from Average X modestly relatively retail of related the stability patterns while remained even and exit in with million the declines Banking and Corporate campaigns. Slide promotional balances $XX the to third our million brokered
and growing in were National drove of interest-bearing expectations advantage. which we in deposit cumulative in XX% performed utilization view attributed in success quarter. operations, a Declines promotional inventory business. XX% the a resulting and decline trends the with to competition, Dealer fourth beta observed of to rate balances continued consistent deposits the campaigns flatten. Ongoing points, environment competitive that to pace in XXX Services successful higher with line deposit as Noninterest-bearing costs and noninterest-bearing in mix, drove to Industry deposits continue a basis
Our operating favorable compelling. accounts has nature of a historically profile we our deposit more with uninsured mix, it our and even been trends and strength feel is
maturing the shown significant continue As broker excess billion wholesale advances to using funding absorbed we to $X.X XX, capacity. in to in allowed while our time Slide on over repay quarter. liquidity position, $XXX in normalize million and mature retaining cash FHLB We deposits
balance and funding wholesale loan-to-deposit follow dynamics remained needs. to future loan to on maturities monitoring XX%, favorable forward. our the high-return At decisions expect going We funding of positions ratio growth us normal and course sheet prioritize
and approximately late $XXX as Period-end portfolio offset balances were rate in years. the paydowns and the benefit by Slide XX losses on our a repayments projected are in interest quarter. to from more unrealized and anticipated maturities maturities in AOCI, $XXX million next securities a anticipate adjustment we million than Treasury net movements securities over increased X and income positive securities XX% mark-to-market improvement
margin. largely Fed. to Net as wholesale at by and loans, reduce million of and Turning interest to driven optimization our enhance changes Successful execution decreased funding mix volume $XXX balance balances and million allowed funding $XX the to income deposits offset related higher were deposit wholesale rates us sheet to Slide lower strategy by XX. has
cessation listed rate and positions interest not on composition XXX balance our impact our did Slide us XX, a of shown or successful BSBY gradual basis favorably As strategy the on average Of of note, points swaps flow interest points associated rates. in our basis slide. execution ongoing cash on for sheet with the the XX decline
we XXXX with a majority and quarter, XXXX. interest we While the loss coming that in loss the into accrete back took income net fourth in will back,
the be some XXXX remaining until to there may SOFR. relatively swaps in we expect fully impact to We although impacted mark-to-market volatility redesignate muted, be
we in securities portfolio, our more managing the to of risk points net range, basis remains considering maintain By time. while higher Slide over few remained intend normal on dynamics, we below concentrated strategically charge-offs highlighted and XX Modest and our strong were relatively quality had balance position Credit as portfolios. our insulated XX. sheet swap
customer allowance historically increase observed we in Middle normalization total as but manageable. Corporate to expected, of Overall, X.XX% increased, rates will drove Market We to These our portfolio a and some the losses believe assets low. pressured profitability. as remained remain still credit Banking, trends Nonperforming slight in perform for loans. general migration and normalization continues
On Slide in XX, fourth million included items. quarter non-interest income was $XX $XXX million notable
income guidance. in in performed in Excluding compensation, the with items impact noninterest expenses, and an of line is these which increase deferred offset
we to over levels, fee XXXX we down income time. to capital-efficient committed to While come continue noncustomer investments growth from in drive remain elevated to XXXX expect
Expenses notable on items. in Slide XX $XXX included million
income. noninterest real advancing in fourth risk of benefits gain the and impact and those attributed Beyond a expenses. of deferred impact with are in the salaries initiatives estate consulting items, compensation, strategic had higher offset the of reflected net quarter sale increases increasing on to expenses and management smaller the the Increased
Moving from profitability intention structural XXXX an events. previously pressures to industry communicated the Slide to growing to address We impact XX. expense and
business incremental our customer future of assess our customers to positioning Through where efforts, a success. to initiated Complementing XX footprint, investments closure plan are to support centers we already addition estate, banking this this In including recalibrate prioritizing nominal normal we reduce the efficiency real underway the efforts rationalize further physical to we actions impact. for in of details and and process, slide earnings. expenses enhanced
approximately In colleague select and with our closures, structure roles. efficiency enhance we combined When banking of are management and actions center customers, eliminated to order our eliminating impact to close streamlining decision-makers keep these positions. XXX the
$XX of our do and have to million, them expected growing reviewed not are by million estimated take are Further, of expenses we enhance effect growth In to offering the but XXXX they capital reducing of These for sustainable XXXX. optimizing renegotiation. returns product contracts an feel actions and are these we efficiency necessary total, we to are and in our support $XX select challenging, lightly, benefit the business. decisions being
CETX common highlights XX.XX%. in XX AOCI Based curve, of and X.XX%. estimated to impact solid XX paydowns expect X/X reduce we equity Even reduced portfolio, the Rate items, losses position. by of by maturities with unrealized on December our our within Slide forward to the continuous XXXX. increase losses notable and our end with tangible coupled securities movement, to capital grew our the
conservative to approach Although do and evolve. proposed capital our apply not the ongoing to they management favor on regulations and plan as we a to AOCI monitor asset changes volatility based size, us capital
impacted on We decline year full outlook X%, project late X% to to average in for Our loans is XXXX XX. by optimization trends Slide XXXX.
point. While some expected we first down we be year X% to point into X% selectivity of December, to but impact average from businesses. quarter, contributions all December from with project to we loan anticipate XXXX, X% stability are Full to the almost relative to expect continue growth deposits from
quarter, first of to stabilize the in the the in decline year. rebound we expect second seasonal half customer a Following deposits and
we deposit XX/XX largely on Based XXXX, interest the forward XX% by income curve, mix. year net year-over-year driven to expect from decline full
extent, we We expect small seasonality first redesignation, second and second deposit lower deposit of income betas and in to From quarter a growth income. net there, half lesser less slightly the more loan interest year. in from higher expect balances impact the pronounced quarter the to and a uptick BSBY
XX-basis-point of As timing our end designation of expect expect eliminate net and that it of quality to potential into or all move relates to We but to we and normal charge-offs by and create to transition the XX be BSBY Credit migration from most remained hedge volatility manageable. lower of year forecast we could volatility indexes the accounting, full of to strong, half rates interest the first range. quarter. REIT continued
expect adjusting relatively when year-to-year notable which X% be items. for grow on reported would basis noninterest to income flat We a
dividends, increase Customer alignment charges, As mark-to-market that offset we commercial by capital markets signaled last and elevated pressures card, expected favorable BOLI adjustments from modestly levels. deposit FHLB with in hedges in is fiduciary service to and from repeat. and expect to price derivative lending fees, growth income decline do assumption quarter, we the and partially income not
efforts, expect funding enhance capital capital and we designed XX% of recalibration grew have on items. revenue decline but X% growth, execution investments our adjusting base, maintain believe target. year risk X% excess our to created to point-to-point management successful framework. noninterest expected expenses our to as in Even reported X% for basis, a Full further efficiency notable well we of after prioritize mix we well with as capacity to Through expense projected are loan
to We our resume in volatility business. future the evaluate we In as all, of evolving time right our taken the support environment regulatory will year, feel continue to repurchases. AOCI and we've are of proud actions right monitor we to share the the we
back call the turn to I'll Now Curt.
