everyone. our provide update an Gary. results financial I our quarter, for third CECL. will remaining outlook Good Thanks, XXXX on and morning, discuss comment Today the on
slide totaled X% a increase quarter year the both EPS This $X.XX. on three, As and operating second quarter represents results. to noted third prior quarter
our the throughout capital deposits, with cycle. Our execution increasing nearly continued results the reflect a by loans leveraging fee asset demonstrated growth and and the contributions for sustaining period X.X% as based in ratio our strategies, of organic expansion from businesses, and our position, our the geographic by consistent of TCE quality generating building favorable
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Looking and average in to loans the second relatively total quarterly the loans of six, the reflecting both on slide balances prior third sales quarters. at mortgage were quarter, residential flat compared
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deposits, to offset X% partially primarily planned due second XXXX, decrease deposits increased average the growth growth quarter of bearing annualized, interest X% to in Compared non-interest X% deposits. deposits bearing time and in in by
Vince from consumer seasonal balances. as for building on growth noted, as benefiting growth a remains As us in deposit business our commercial well our and relationships focus deposit
look record linked nine. income and over for movement as normal now increases increased slide income markets. interest income growth and XX% near seasonal volume expense and quarter, banking record in primarily million, Let's increased insurance significant another last on downward to X% eight in non-interest by quarter. $XX level mortgage due production and capital rates a million at driven reached banking Non-interest and increasing $X.X Mortgage
benefit was elevated $X.X regions. Insurance Carolina year-over-year and solid the good syndications. and experiencing with levels, revenues commercial from organic business international interest rate increased markets very activity XX% with growth in contributions from and at new of Mid-Atlantic million again banking growth Capital in continued swaps,
non-interest charge related recognized investment taxes. slide million tax nine, a renewable tax primarily quarter, compared were Turning increased from a benefit $X.X $X.X energy expense transaction. income to credit second credits to quarter quarter The the to renewable to as the during a million investment third due
benefits our and basis, from or On occupancy well and manage an million, expenses benefits reflects efforts ready $X.X operating essentially and expense flat. decreased companywide, as program. employee as X.X% equipment expense to our was salaries This
offset flat XXX second at Looking loan June, deposit tied revenue points month on lower income LIBOR, September. quarter as net to at XXX basis was loans seven, the from interest end compared slide end XX was mostly to at asset one of to with solid the yields declined on which and of compared the growth
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we rate never existed are pleased performance the the feel quarter. the given by with throughout good challenges presented interest interest margin net we that compression, about While environment volatile relative
expect expectations the year. from that mitigate to expense. are guidance remainder interest non-interest line pressure, to better I'd we of to Now bottom turn with our like than for provision as and the EPS income our expected unchanged income January, Overall,
a updated rate last during end different recall, flat quarter. on up our included guidance third income year-over-year closer than what may interest net we basis, which we to you experienced to a quarter, the forecasts As for
one to relative Bloomberg expectations XXXX. in calling the has our margin digits full net materialize the the forecasts for to under We in and remain an income and for move which consensus interest forecast would current next cuts July. if income to year interest of economists impact in current decline quarter Fed for is pressure The expect net in XXXX XXXX, to additional low-single
current income banking fourth expectations a to quarter. high-single and fee-based expect We're with from mid performance earlier exceed pipelines capital to healthy markets continue to in non-interest grow very full and as We now of the year. pleased indicate our mortgage digits, the businesses this year
Given business our million the The and we expense key our $XX to million beyond segment importance spread highlights to year-over-year. for sources provision of fee-based asset expenses in $XX expect diversifying is success trends, to income. the quality revenue be down be outlook now
to Overall, we in Lastly, we bottom guidance the track the this with challenging performance for to we effective year XX%. even year are interest the around pleased environment. rate very our believe financial quarter and tax line full expect a meet rate are be on
for we XX, basis XX the an originated make for in teams end functional of the impacts are on points provide day of range cross CET-X expected to XX% to like to efforts. related our to capital of fully allowance basis. as Beginning a basis XX XX% on The XXXX, on of expected points credit TCE regulatory I'd XX slide our our XX continue in update on and progress CECL show losses impact Lastly, to the to loan capital from adopting phased good portfolio. estimated to increase one implementation
While bifurcate originated important to by two, originated portfolio. and capital and loans the day the on that portfolio acquired we same impacted day one was impacts only presentation since acquire treated the for felt day this originated one are is it
in allowance the capital Turning on results million. a remaining life perspectively impact. to no The estimated to $XX these loans allowance of allowance and on sheet $XXX CECL one established income acquired on up is CECL gross day the one of interest be $XX is CECL day of portfolio is over the to balance $XXX transition credit million slide acquired on million portfolio. the accreted with the loans marks remaining XX, and the portfolio the million portfolio, Once non-credit into acquire
that the considering portfolios work continuing the on driven and These to forecasts size, the this still expected interest The except change that must estimated our quality at composition at future based estimates remaining are by losses discounts economic or estimated maintained of marks over time the life conditions. cover subject fact rates the loan increase to recognition the credit portfolio. opposed macroeconomic loan the our conditions similar of of loan loan The to allowance the of the and is of accretion credit as process, are is adoption the and pools. allowances level, to models, current on
estimates loss We the will XXXX. refine until evaluate our to continue in of and results implementation
day As you on manageable ratios see estimated the can and impact management strategies. to capital our impact one existing the is doesn't our capital slide, capital
strategic initiatives some will give our of update in Next, Vince XXXX. an on
