a with by negative declined bit of Thank mortgage $X.X decrease quarter due relative income accretion on half to and Fee million variances returned income the about last acquired to suffered a you, normalized as loans. that Jim. Net more interest banking income level. to accelerated
the of securities interest a A quarter sale the that Jim downs a very to as portfolio quarter. acquired the with half taxable XX to few The by additional decreased said, in during movement during about ABC though trade margin XX% margin prior aggregate reported last equivalent third in quarter the due points, basis with points of subsequent contraction were one rates. basis the from was the the good due lost in on pay
also on of see to margin movement has further in the by accretable balance in sheet of into should begin XXXX. first funding for but point, losses. on we impacted the in XXXX of limited levels been allowance be movement be CECL modestly X, reductions impacted liability the adoption by change. periods future Pricing offset quarter Equity the side reduction to in by the trends costs Notably, January this discount with will will credit modestly a
of level million in estimated of a reserve, currently reclassification the derived the will purchase by loss accounting loss the at is into million discount The largely increase overall credit reserve. in loss $X the credit reserve increase $X to be
As us we not loan will see the mature, these reserve levels with begin trends for given migrate to loans short historical to levels these inconsistent duration nature our down portfolio. of relatively
funding us both to quarters loan core modest of and we forward. the coming growth, while deposit deposit to the going positioned leaves and in well our ample on trends quality focused be Our further pursue core will base. have loan protecting to growth ratio with margin expectation contraction efforts continue The in flexibility
through asset forward and optimization. growth and growth Jim loan As optimize mixture is will likely going deposit seek earnings fund it mentioned, we a to of asset mix earning the future
in the be decreases during significant rate bias the quarter quarter excess negative with the in that stable rate. fourth the were future or we relatively funds modest trends our Fed Our saw the third a expectations. movement LIBOR margin in any Notably, during absent should of in
become front will much the LIBOR recover other obviously, conservative. Should will a this downward, prove guidance in rates the do sensitive it direction, a significant believe with opportunity trend I it incredibly growth continue we we factor important would for loan us. but in to in not Overall Should well. rate. are and us changed, having as for moving more We of short-term outlook movements start have to
income MSR slowed valuations quarter mortgage during although and pipelines, banking fourth more again, the were fees retail more in to sale quarter the and activity quarter. quarter both and wealth modestly third fee steady management for banking Trust decline, on remained trend and a during compared reflected card modest the favorable. the side, On margins
Expenses remained can factors from as sales quarter largely see, the by trends future seeing with growth run continuing you fourth hires you seasonal for largely investments into and very during rate have additional offset been a well-controlled, us. are baked
With to call that, over I’ll turn back the Jim.
