quarter last with falling there -- banking Fee spreads income rates. from nicely significant with stabilized which interest an benefit are very core Jim. mortgage you, by and loan a a increased income and from very from accounting, activity bounced decline on Net unchanged mitigated interest margin yields Thank back was loans rebound purchase good.
with was quarter, massive. margin PA in portfolio equivalent which the from larger last from quarter aforementioned due X pay taxable the decreased the The basis during acquired simply to down XX% a contribution reported ABC point by
deposits of the recently, X However, further quarter. the the side remaining have actually the of and of and well balance in end portfolio on abating. a out time. pretty portfolio the difference of time Old to would in movement few is by remains time at a sheet relatively time basis market significant the of the movement controlled months note, as Second we XX deposits. Pricing accretable are, liability XX of short frame points signs the XX-month percent shown we have been the period market a points market increased of A on on pricing now basis ago, which the where leads
yet have that very there. growth the rates to We the still out those deposit pipelines of move and have feels with that we loan reflection good
to So in the despite Fed funds move yet we reductions have the recent rate.
long loan-to-deposit ample focused contraction flexibility positioned be the ratio will continue modest and well of quarters base. coming while to core growth both going at the over forward. protecting to the margin our us in a quality little and XX%, leaves deposit The with corresponding growth on pursue efforts further Our the and expected have trends we
mentioned, will the As likely mixture optimize optimization. and asset and earning to fund we earning mix loan Jim seek is future of growth asset it to a deposit growth
Looking forward, Fed absent core margin rate. relatively funds in should trends remain any stable movement
funds point that's kind Fed we know point should to each a basis basis be movement reduction. of X no both rate, to in to range with X XX unlikely As we see the type continue
for And however, but believe more pipelines we of mentioned, rates in opportunity have important nonaccrual acquired us having both much are that Overall, margin become and as a short-term I show than on the potentially us. loans. for of stability trends, growth strong. Jim more loan significant prepayments Reported impact changed, with the front with will the outlook
On pickup banking built during on and refinance margins the a have activity. quarter improvement fee pipelines gain the level a sale reflected with the mortgage income of quickly in side, in significant
securities. were municipal August, within obviously which recognition portfolio should spread in both additional and should continue income toward return, retail had of the trends MSR provide an card the of quarter The Trust were quarter banking fee size the gains solid the We activity. end the the previously fees was part of reduced were near-unprecedented by see to significantly was taken Securities and impairment tailwind. they in a and and impacted management quarter. And of swap modestly another strong rate-driven tightness mentioned wealth big in portfolio.
know, tighter. large very we in you relative have don't I concentration believe have spreads and that munis a ever to treasuries As been
reduction gain. what gross the due in if in reinvestment, of We a to realized some we exchange personnel-related We for see Expenses that $X.X significantly that sold, $X.X the same goes about at though million We XX% sold were income less The none into $XXX,XXX those give was unlikely. quarter commercial a recent obviously today. controlled, on the up elected in million up gain. sales reinvestment would in is did hiring again been increases expenses assuming to have securities department. remain $XXX,XXX well gave which gain loans, about
in year and largely will of offset future baked the investments growth for this seasonal largely factors the titers at remainder by be in sale point. continuing Additional are
Jim. turn that, With over back the I'll to call
