Great. Thanks, Bryan. morning, Good everybody.
key flashback the Let's start [ph] off highlights quarter. on Slide just some the a on do of in and X
we're deposit a million our are we're really average an and $X.XX allowed could integration improvement on the return pressure, including company adjusted capital to expense us of the our we're credit And repurchased The and flexibility mentioned, business delivered expense basis income, return cycles an We trends growth, performing shareholders. Bryan to fee pleased generating is succeed in dividends well profitability in GAAP about we loan shareholders to total million with strong our and as we've capital overall landscape the opportunistically shareholders. muted by quality. in as credit on-track, or Bryan quarter pricing, way. we even highlighted talked $X.XX that diversified of As for to we X.X price of the a $XXX to is to and at are further has position and returns for what discipline, with capital controlling said, $XX.XX, businesses Due in various through shares common the control working merger counter-rate meaningful excellent, and as very expected. to we fee EPS model
higher headwinds merger based expected linked-quarter reflects decline personnel. benefit saw despite X, revenue down ongoing X% $XXX and expenses the on the results an NII, PPNR for saves million 'XX. in We seasonal gave offset while adjusted largely X% fixed we in Revenues an overview quarter. discipline, Slide generated financials; we in XQ of reduction a just which incentives at impressive you as Looking from of cost of and slightly income were
portfolio, Given resulting only with loan these combined provision and in you if Bryan in the million on million common $XX release, helped our we $X mentioned, charge-offs in very common strong a quarter overall results macroeconomic even billion balances, our XX%, equity as released net $XX improvement for return reserves points and $XX reserve And an the million. tangible X XX.X%. above in was low basis outlook this loan drive on of reduction of or the credit our return on tangible equity over a adjust
LIBOR down of bit the in talk by on in Slide million Moving a we'll about generated $XXX income. driven interest basis. reduction largely $XX balances, linked-quarter, quarter, and fewer X; million, little the days a loan We a net decline reported to NII further average in
continued points a billion opportunities ended cash overall which X.XX% quarter XX to remain are interest we'll XX headwinds. our NIM basis somewhat we cost impact costs rate $XX.X environment. of what driven in another by basis We on reported mentioned, and our mitigated we to As quarter excess look the take control X drive this can lower lowered points decreased rate for basis funding environment was that in we increasing continue [ph]. continue quarter these this focused bearing controlling our funding overall, basis down linked-quarter, and X to deposit The at further which we low point to first of levels this points while
nice XX% fee with Slide XX; fixed up continued display of cash income, a volatility past in driven our Moving for in and diversified $X.X again million guaranteed mortgage rates. on was revenue driven to momentum benefit condition results in brokerage wealth of work well. along with bonds was to this fixed great were a platform day, with the In the excess particular, income and along by active. income, debts linked-quarter clearly and more increase as the government favorable daily average particularly at our Linked-quarter increasing million quarter banks on the levels $XX by in our to
banking mortgage higher strong our linked-quarter, rates, to decreased million despite [ph] the historical compared housing levels, While of entitled limited in-depth remains results and seasonality, inventory. interest $X relatively
in control, and to ongoing continuing us in tax increase tight from FICA focused we headwinds to to incentives merger future. revenue-based our can across will control, expense adjusted along an cost $X platform expenses personnel the ongoing continue offsetting but cost in XQ stable We expense In $XX costs the a from control that seasonal highlighting to held drive relatively efficiencies intensely on well see overall only XX; investments capturing down are to to we linked-quarter on additional resets, the million discipline merger million benefit expenses saves quarter benefits of merger on with Moving $XX incremental our saves. commitment $XXX tied were what million reduction position commissions. 'XX with continued the efforts to processes you streamline to million, and with not Slide and levels
loans Turning our loans. funding a in XX X%, by driven in and as balances due pressure increase and slightly give we look to profile. $X.X our see in loan business. portfolio and largely both growth down mortgage in our $X the billion up continue loans And net loans, consumer billion which were to companies in on expected, to Slides XX; decreases to were quarter mortgage-related the we PPP you loan Period-end at at a
our forward, look we momentum. really nice pipelines showing are As lending
of we finance. activity seeing across back increased particularly that levels half the will the we're and the the equipment revenue optimistic as At and our nice platform, of see economy in signs uptake well, year-end is of areas to utilization commercial a early saw modest in rates are we continuing year. So improve, lending customer we of in as asset-based synergies
saw deposit inflow deposit PPP increases the driven On new consumer continued the we growth checks. of Commercial by stimulus liability and was side, reflected deposits. balance
bearing which As our earlier, and in points points basis funding our drive to cost excess leveraged decreased point another helped interest liquidity XX position decrease basis basis I overall, X our by overall we a mentioned X deposit costs.
quality, Net asset really reposition how the decade dramatically loans we XX and the took changed It's coming hard basis points, to being to that improved incredibly the steps our Recession Great down starting year overall are X believe risk to over with has landscape a quarter. the points average out ago clearly from are basis we pleased Slide now to profile XX. of in last Turning on illustrated. charge-offs
loans stable. remained nonperforming relatively Our
a the evaluate XQ factors provision combination mentioned, million. allowance $XX reduction our in economic XX:XX] ratio the And overall coverage portfolio previously in from significant use loan then modestly to credit improvement XX, declined you Slide benefit points macroeconomic million basis losses reserve And of the we as balances XXX other February [inaudible incorporated to and the see overall coverage. to 'XX. the drove only I reminder, a and at a 'XX can release outlook $XX and a as As on reserve a in in scenario of XQ
profile risk Capital on our our with comfortable very feel and reserve to continue We Slide XX. levels.
As in -- a earnings. a basis was X.XX%. tangible $XX.XX book helped share value Bryan reflecting XX up mentioned, reduction XX our addition point in basis improvement X%, to per in drive strong X CET ratio to And RWA,
integration Moving on merger to update. XX, Slide
we systems and We current conversion continue fall integration the platforms we to full early for remain drive progress upgrade the in front convert system strong of on track and XXXX. as on
of We run in still annualized against $XX rate million for We're $XXX million. track achieved year. on million have end of target annualized $XXX by the the savings our an net
As investments the continued to continue make reminder, overall and providing higher flexibility are and and our a customer other improvement processes in technology experience. the gross is savings drive to to
really roughly commitment. revenue significant about We and experienced solid inline synergies far just far to annualized earnings in that revenue to we're additional pleased January. provided activity of and of on with synergies pick tied the quarter thus million as our First product with or economic commercial First XX, better the with of million through Additionally, making performance opportunities quarter outlook up. across on line our items see year markets loan than $XX we're lines On traction continues synergies all $XXX revenue the we are call and Slide
we based full-year business We in economy. have the therefore the are strength our updated outlook our and our quarter the on expectations and seeing second for both
First income we with decrease while the anticipate NII, outlook average for business, outlook. environment the single-digit a term our the loans low quarter down [Inaudible our And second For year for to to particular, from reflects double-digit low continued relatively modestly high-single due decrease fixed expect in XX:XX] digit quarter. strong a we
as front, stable expense non-interest focus capture to we overall we and the efficiencies. On to on discipline merger relatively continue expect expense be expense our
to points continue to in continued the charge-offs to basis well range we're likely expect basis We be X XX and points to very that reserve of see releases.
expect full-year, the for the for and XX% see credit terms first improvement the quality, to remain CETX given performance only points non-interest provided income, year basis And expect to where we to year, [Inaudible single-digit range. in CET of charge-offs We the in high the in range our in we an XX strong our basis for mid to update lower full XX% second in in in income now continued quarter ratio X.X% quarter. increase a XX:XX] target the and XX a net fee points to the
up cost of by and more working. our as our cost merger on saves controlling synergies. rate can our strength on franchise. we We're interest business revenue the Slide demonstrated reductions. solid what from business We're the Our through benefiting is capitalizing and model opportunities Wrapping headwinds. We're highly model despite evidenced in diversified attractive We trends fee businesses, revenue expense XX. control
returns delivering we're and credit for shareholders. is Our excellent quality enhanced
in I all Call to my way acknowledge just that you Fiftieth her. about and that will and Horizon to of and First a pursue a has and with very have, with passion Development everything We're be certainly Before there all Bryan, Head the us excellent of I'm I wanted every step been for being equally excited of her and this over better very it town for for to moving happens Investor to XX:XX] she us, that. and about she excited has on thankful Earnings Group hand she's miss of non-profit [Inaudible back be made Relations place better she an here we will of she's done for
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