you, Thank Chuck.
the interest income XX linked was and interest net up margin expanded compared quarter X% and grow points Our to our basis to X.XX%. net continued to
interest Our to loan higher continued be by and market quarter investment and impacted yields increased to environment. the positively the compared rate linked
Accretion to income, expense $X.X for and from $X.X was XX million the acquisitions adding points amortization linked to XX million, quarter. respectively margins, net of basis compared basis points
costs costs XX while driven our funding raised were Our increased marginally. borrowing were rates up deposit we basis and and by balances, borrowing points higher
for which fourth the quarter, margin a Our were the high XX points to for in points basis expand our XX compared quarters. control help continued basis rate at to recent linked costs, quarter has deposit
points. grew net net Compared XX% interest and basis to expanded income XXX the prior year margin quarter, interest
the in improved prior to interest our loan Quarterly growth see by improvement points, core continue field from while investment XXX We increases market higher quarter. rates. security and basis year the XX our points basis yields was than
costs higher and to Funding borrowing and rate. deposit in our balances were costs tied doubled the increase and
Premier while our market to and For organic acquisition the full XX%, coupled the year, majority and XXXX. net increase rates points grew driven income Vantage with XX was growth interest our basis of by expanded margin net during interest the XXXX. higher interest The merger compared
asset to expect sheet in position We as we a reduction complete relates merger. Limestone balance we once it are currently in slight asset-sensitive the our an sensitivity and
As efficiency paid our that we relates off. pleased to for it have our ratio, reduction efforts are
to prior quarter. reported When the year XX.X% non-core year quarter is for and compared efficiency for the our to XX.X% prior decline for ratio a quarter. the a for linked XX.X% quarter linked adjusted efficiency was XX.X% Our basis and XX.X%, fourth the on ratio the for quarter compared expenses, XX.X% for
basis, did The positive operating had ratio adjusted from was on the XX.X% both of is and to for are to prior ratio XXXX. a XXXX. we XX.X% reported full XXXX. compared our expenses for for measure when basis improved we year-to-date to efficiency The period. linked efficiency We we quarter this XX.X% non-core if growing leverage our quarter, value reported adjusted XX.X%, we and On and year revenues year the compared compared to a prior find in identifying
in decrease and overall banking Compared income to linked X% prior was quarter, income, fee-based our our Compared our income, fee lower X%. income is with the which electronic driven along swap commercial the other declined interest income lease to year lower down the fee-based while included non-interest grew, by quarter, income. loan was
considerably prior grew income compared million totaling $XXX,XXX Lease quarter. to for year $X.X the
compared grew by this insurance of to was quarter fourth acquisition the XX% our insurance and income impacted year. Our XXXX earlier positively
account also and policies higher We during in had additional deposit we experienced growth XXXX as service income bank-owned insurance we life charges. purchased
demand. in of fee increases swap offset interest rate and the which were result Our mortgage more high were declines banking customer a reducing by than loan income, commercial environment
to was full the year. income up For compared the year, fee- prior XX% based
service charges, the driven Our which biggest from was customers merger. area account by was Premier of deposit additional growth the
Lease lease by XXXX, acquisitions. compared income the million grew $X driven to
XXXX. due banking from the late in to electronic higher additional Premier and income activity merger increased accounts Our largely customer
to because recent income to policies income interest home by rates increased purchases Insurance market XXXX Bank-owned during of insurance life periods. banking mortgage declined fewer XXXX due customers to in increased the during income higher purchased refinancing compared related and made XXXX. and
while for expense This professional acquisition-related Moving to expense by and processing expenses totaled which $XXX,XXX due grew to noninterest recorded, recent the quarter, non-interest fees X%. the increased total on higher quarter. software driven was other linked expense, over compared to data expenses, and
At $XX,XXX declines increases was or coupled non-interest to the the in associates prior our of expense year year. electronic Compared of same the the related time, to recent increase other marketing making and benefit largest grew completed which XX%. higher beginning The franchise employee we at by with costs, some in expenses. with increases loan our were for salaries growth during able and to expenses. October was a in We less these increases merit XXXX, tax driven we total the quarter, banking, offset salary pay-per-associate had
with from due our to data addition increased processing recent had associated the to Also contributing sales and incentive increase to improved We higher of associates tied higher with medical intangible completed and amortization insurance Vantage increased performance costs. was software expenses of acquisitions well as and acquisitions. Elite expenses, production along and the higher year. recorded the this We compensation as assets
operating additional tax expenses which in Vantage had We and early partially expenses completed acquisition, by XXXX. lower The growth electronic offset in these was franchise from the was banking expense.
expense year XX%. to of our the grew XXXX, XXXX full For total compared non-interest
We periods, size to has This have been acquisitive through in the resulted over categories, which costs higher reflected a growth acquisition-related associated year. led in expenses. and excluding with in costs footprint our most last larger recent has
Moving end. investment quarter linked on over portfolio our to the by held-to-maturity grew $XXX the sheet. balance We million from
We high purchasing they are with yielding by enterprises. that government-sponsored low have risk are issued relatively credit been bonds as
of investment quarter our held-to-maturity accumulated to investment our been securities in securities. have comprehensive available-for-sale end prior exposure other us total linked investment XX.X% for the end. allowed At of we to some our in investment XX.X% additional for in that to XX.X% comprised swings securities the the assets, losses experiencing compared year and reduce The our end, has year
continue position. could liquidity manage in a assets our total that to of periods investment securities anticipate we future as decline our We as percent
As XX, mentioned growth or over since had Chuck XXXX. we earlier, annualized $XXX September million of loan X%
governmental the a Compared have This end, was decrease fourth quarter the seasonal deposits of by deposits, outflows of each during year. declined total to our quarter X%. driven which linked
We also CDs. had and non-interest-bearing some our in retail shrinkage
CD as However, and had as function end end, reduction year a advances. price us these with in end. FHLB prior an a still funding was growth of borrowed end consistent position. of which We At total certain at in XX% our year overnight in our our demand percent linked-quarter our deposits at some balances were year the deposits process broker deposits lower put in were the
and equity capital linked-quarter ratio common to was XX%. grew capital leverage At perspective, XX.X% ratio end, Total ratio the basis by our end. Each we X.X%. compared ratio risk-based our to regulatory improved ratios a year compared the Tier-X XXXX. September Tier-X capital capital XX XX, XX to was points, From was
in earlier capital our Vantage We in decreases caused acquisition have substantially by the the XXXX. recovered ratios from
Our and net the share capital end grew quarter. XX%, in recovery comprehensive on dividends at increased tangible XX% to linked annualized slight X.X% coupled with value accumulated book value our tangible other book equity basis, to asset of tangible ratio the earnings quarter a per respectively, from improved We and X.X% compared as our by loss. an per to linked
I additional will for turn comments. Chuck now the back call to
