the review Trustco’s I fourth everyone. results XXXX. financial morning good of and Rob, you quarter now for Thank will
yielded XXXX, $XX.X the million an fourth grew from the quarter respectively. income increase year of for Average a of loans XXXX. quarter to equity and As average XX.X% of $X.X the $XX.X of quarter release, year-to-date a XX.XX% XXXX of assets the billion saw press average noted and X.X% of company over the we and in million quarter over net fourth fourth X.XX% prior the on return which $XXX.X in million
expected, XX.X% same be within XXXX quarter period the estate ’XX. As X.X% our focus, $XXX.X to portfolio commercial which million residential primary in to increased the lending loan the real period average for growth continues in same The over fourth portfolio, or the by $XX.X XXXX. increased or of concentrated million over
include quarter AFS remained third of AECM portfolios, quarter during ’XX ’XX. increasing fourth average Total over which investment securities, of the the the stable, $X.X million
the and down of During $XX.X bank period, the approximately million purchased million approximately of $XX.X paid had same pooled securities securities.
losses For ’XX, losses was credit decreases for losses December XX, commitments ’XX. $XXX,XXX This the unfunded $XX,XXX. result and was to same credit unfunded benefit of for of quarter provision loans. of a The the to loans credit as X.XX% for the of on a provision in of as to $XXX,XXX compared on of period as XXXX allowance a includes X% total loans loan ratio fourth in of losses
traditional focus has us consistent, high produce enable balance lending Our to recurring quality on conservative to be residential and continued to continues earnings. which sheet management
provide is for management. investment portfolio a Our to liquidity source fund been balance always loan and of flexibility and growth sheet
the decrease of during ’XX, compared a an million the of result, million in of period average $XXX investments we fourth a quarter XXXX. As same to $XXX of overnight held
and will into of evaluate liquidity Given the bank current the continue level interest investing the market. environment, excess changing to the rate cash
year million. money increase $XX.X same increase in deposits of decrease $XX.X bearing checking deposits, account in over were a in averages, time side to and in by $XX.X These million average checking decreased savings increase average and decrease a in deposits $XX.X period total deposits $XX.X interest-bearing result of market million On average million funding deposits average a $XX.X million offset a the million average the the a balances. of for a in decrease was balance sheet, The X.X% ’XX or quarter earlier. the the fourth non-interest
to points from cost from XX increased basis last deposits total deposits by This points over XX basis period, XX an time of XX period primarily in interest-bearing basis same was points year. increase to points. the same basis driven this During our
rate we of that the into move will CDs approximately average In of will will points ’XX, second an CDs an average in approximately approximately in $XXX at ’XX. in quarter of $XXX rate $XXX first of has mature of million million an at bank rate the mature X.XX. million the XXXX, the CDs ’XX basis X.XX%, As at of XX quarter of in and second mature average half
assets $XXX continues recurring XX, significant to management a financial of They million non-interest of December under as division of Our source income. XXXX. be had services approximately
and non-interest $XX.X increase salaries Total over The range expense and by of partially million, and Now and expense. expense employee $XXX,XXX seasonal came professional the quarter in million of increase outsourced expense from compared decreases onto ROE offset QX $XX.X services. a of net of to primarily benefit estimated non-interest million. ’XX in third up $XX.X equipment net our prior an in slightly at result services, quarter is expense, expenses, occupancy to
quarter an compared ROE an expense expense net prior $XXX,XXX in to the of came expense of as $XXX,XXX for quarter. in at the
$XXX,XXX the hold to ROE the low are exceed per continue Given level quarter. going expenses, of we expense anticipated of to level to continued not
$XX.X range to million in quarter fourth. million expense total at We ’XX. the efficiency of compared in in net of per $XX.X in ’XX ratio quarter in of to the The to fourth XX.X% quarter. came fourth XX.X% categories expense the recurring of expectations would All and our were non-interest with quarter non-interest the expect ROE of be for expense third XXXX’s other line the
compared year the value times. to Finally $XX.XX, assets quarter equity December was capital the at its share XXXX ratios. economic of in compared of to earlier. X.X% X.X% the fourth shareholder was proud for of Consolidated these bank ’XX. challenging up to value XX% The quarter XX, $XX.XX during maintain to Book to ’XX continues ratio ability fourth a per be
and Now Scot loans. loan the portfolio will review non-performing
