Great. Thanks, everybody. Bryan. morning, Good
we Double-digit Simply financial and control start put, with slide results. EPS I’ll by six across our linked an banking on the quarter. quarter fixed growth income revenue was expense and both businesses. growth driven excellent had significant
X%. driven income expenses in fixed revenue points up of This net was increase an was outstanding efficiency income income was of an a by notable linked X% by and down The of and growth by driven XX% growth fee expenses bank fees were up in commercial total X% XX% in improvement XXX and over up almost a XX% XQ with increase the linked adjusted ‘XX. primarily quarter only Our interest resulted loan including total X%, ratio operating quarter while quarter fees. leverage basis quarter, driven items of XX% actually X% revenues linked in adjusted
and executing at to balance laid strategic you Day our November. deliver sheet growth strong On that by see out last demonstrate Investor priorities we’ve progress slide seven, the can on EPS tangible we
and to experience markets of of optimizing priorities seen We core maintain of oriented growing priority in the balance key ability Company. in remain reduction in and evidenced by we’re customer earnings our transform in seeing, businesses our sheet profitability And specialty continue growth to to confident efficiency the improving Our was ability execution of business growth we’ll base business in net expenses our and we in revenue reinvest and the our quarter. that on Tennessee and saw reinvestment. the are expense dominating momentum and the the the profitability the order and profile approve
on growth Turning eight. slide to total loan
expected, loan opportunities seeing You as growth our specialty and and Post systems see key merger growth, for organic our started businesses. throughout strong Capital was sheet Bank at year-over-year continuing our conversion capturing in to the X% that balance and particularly we our XXXX, strengthen. repositioning markets in
last bit see delivered loan nine, quarter. strong a Loans slide average billion quarter you specialty growth detail XX% more broad-based $X from linked companies on grew Overall, in up significantly quarter. mortgage loans a the over were On and quarter. had particularly to a balances we
other quarter. Outside well Volume this leader. our home of specialty the see lower on areas capacity all as slide, a as us left purchase growth, knowledge as retained positioned refi And in bottom XX-XX. business lines strength hand sheet was as over average great customers have balance other market experience in The year, as specialty was the the environment. on our seasonal of and to still X% and loans from areas all the purchasing you grown mix We’ve companies, mortgage up roughly rate and business said, grew. delivered I in of linked can
to Florida. Tennessee our particularly newer addition, continue expect key and we remain growth markets over In the South time, loan and steady, growth Carolinas and markets in the to in continued
on XX. to deposits slide Turning
improve up South success increasing up Mid-Atlantic. Florida, profile. were experienced markets incredibly our funding specialty with in and such and key we areas in continued Deposits customer the as Middle-Tennessee linked are in deposits X% quarter We pleased to X%
funding specialty you index businesses enable deposits. improve in our on decrease cost markets which customer meaningfully us plan from in deposit As we’ve market our by a funding growing been would to executing newer know, to the higher particularly deposits, profile
Our XX% to quarter results market favorably the rate net that the $X second quarter mix the with overall proved second income quarter. balances net out results That that first deposits index billion pleased almost plan are and we margin, from interest impacts execution down shift with paid, and are deposit in of in we average interest or seeing.
strong Let’s NII of shift higher in turn a which macro quarter, and net slide were our XXX the well Net trading and as offset growth net interest interest margin rate deposit few favorable in up quite points given margin environment basis which compression strong. as our million inventory X% to took we interest XX dollars the basis the LIBOR mix to backdrop costs, accretion. and advantage income up review trends, Linked to and from of was loan was optimized quarter points excess X as impacts. rate cash
and As helped overall actually I mentioned, in paid. lower this rate deposits deposit the moderate our in favorable quarter has mix shift
Our points only total X point. X declined deposit deposit rate basis linked paid remained in relatively and quarter steady, basis bank, the up costs regional
back NII marketplace put given sensitivity in our rate the active the We chart slides the cut. specifically around discussion rates, in
companies it NII refi a sheet rates loans our immediately incremental balance continue purchase strengthen. revenue; with strong would down mortgage is the our fixed likely grow to therefore continue business would number and continued income volume; add that our to to and two, strong be and activity business balance we higher would a looks three, takes shock the or mind, to impact. if about meaning resulting Keep rates business and things Number moves this it analysis, important As and in three up model our were one, sheet at current shock reminder, is down.
of All through as decline these would rates. serve in mitigants a
you our excellent moment to Turning take countercyclical quarter. to had slide reintroduce business, XX, I’ll which income fixed to a an
Our average quarter and the at were in daily XX% $XXX,XXX, revenues XX% up year-over-year. up
we the right can showing of see and fixed slide quarter. income that contributed directional in second saw mostly the on the to we’re market reminder, bottom that you XX a factors increase As the volatility rates impact the and that
product up revenues business largely significantly, interest driven rate were by our with other swaps. the business derivatives fees in in executing banking customers Additionally,
was quarter up the share. income and contribution quarter the was linked $X.XX business’s XX% a EPS Pretax in
be muted several profitable volume maintaining we’ve the revenue the we itself, volume market moderated last the capture when presented opportunity opportunity fixed an management quarters, as this to the team As levels excellent of quarter. of profitable the and FTN at while business and more discussed to was power saw that did the job streamlining at income exactly
we here no quarters. why sit income remain we strong see today, fixed won’t next reason the As business our few over
to expenses slide turn Let’s on XX.
$XX in were included expenses. expenses million of restructuring previously acquisition As and X% I items including some our the talked incremental an total remaining reported about and branding notable quarter, before, linked expenses up disclosed related quarter our which
forward. as that total expenses Adjusting the discussed, closures increase should despite As items, the branch run down a variable notable on our enhancements. as to expenses higher in compensation these rate income going hires quarter-to-quarter X% related include linked revenue processes strategic reinvestments reduce the business were restructuring we well and items experience through actions and such previously for customer quarter, in our million $X as improved fixed
XXXX, achieve targeting as $X of year. in we to XXXX, year of And million actions $XX for full with $XX the in plus $XX about half reinvestment. took we’re million million For of and saves reinvestments cost efficiencies first million total see you the of can
customer and revenue base to continue us will drive reinvest to our expense in We manage to enable efficiency business maximize improve to the and experience.
provision additional credit non-performing our on $X reserves was portfolios. quality charge-offs the $X The were in in asset the of quarter credits. see well continued commercial linked slide for We $X the stable reflected across million In as mortgage related growth to million second quarter, to last asset to million, charge-offs loan quality loans two solid as from companies Turning quarter. Roughly commercial net one portfolio. increase XX.
being see idiosyncratic in broad-based with one-off credit So, the do performance continue see book. we deterioration not issues and to or
actions over about we some Slide year run downturn. into quality positioned lower down credit portfolios soundness sell of and many well loan several since a how economic we last reduced those or portfolio And lower in last portfolio course have XX growth, for our how though with along a years impacted perspective. others to the the current from key quite is the spread reminder our our profitability last took actions risk we’ve pick our that
our well you operate ago, consistently we capital As a and growth the which portfolio. earnings much to estate-oriented decade will of shifted in from soundness, profile one our risk philosophy power, see, our operating strong. quality higher real And us on to and levels believe in that relative a serve profitability We portfolio and the are can a order, commercially-oriented loan environment.
recap steady loan the ‘XX growth along strong we’re profitable in on highlights deposit growth. slide XQ several with to areas seeing XX, So,
the for and and earnings and improvement, effectively the actions that quarter an share further through seen Company drive efficiency few environment We Credit capital expense seems dividend. taking is more strong are to additional favorable and stable. years. fixed loan have quality to discipline attractive strong deployed excellent And business the growth, in buybacks income reinvest a we’ve a in current we
on strategic laid Investor half business the executing seeing good priorities performance Day of momentum we’re And We’re that second expect strong successfully differentiated our in our out we in business and model. continued the and momentum confident with our XXXX. in
I’ll wrap our slide XXXX XX. on up outlook with
capital Our net margin, net our unchanged. levels remained outlook for interest charge-offs and
from declines the environment. continued the for full an the and Our quarter, have and interest the now rate forecast some serve macro These benefit using impacts should our some given as return two in improved results decreases accretion And macro saw outlook LIBOR. and those stabilization that in some the year. assumes continued we’re our of second loan the in with of net by offset strong we to should growth metrics environments, for some deposit rate we and efficiency rate XXXX lower costs factors offset margin from
year expect to income in both minus from And For fixed X.XX% plus or businesses. returns, at X.XX% ROA, continued efficiency addition, from have we versus revenue full in we plus and plus previously, XX%, the now XX% higher or the ROTCE minus, net strong XX% ratio banking benefit opportunities XX% expense and as down revised and we efficiencies at versus previously and minus ROTCE ROA or previously.
up turn over and With Bryan. that, it I’ll wrap to back
