Vincent J. Calabrese
I $XXX.X energy financial year million securities of Today, quarter XXXX.
Fourth financing fourth the as the debt our $X.XX or per in results, loss investment through restructure securities excluding and and investment walking credit $XX share first the Gary, totaled Thanks, quarter's focus tax restructuring. details quarter as operating the on the well renewable completed guidance million full income the on investment will issuance morning. for including good November, pretax transaction when net the on and
as on recognized income taxes company financing financing by The will project included XXXX.
The a transactions $XXX credits of fourth financing to the receivable, pretax energy $XX.XX renewable value, team of of an quarter's valuation management balance share.
In the was AOCI, business profile. a sold noncredit maturities with offset partially performance of energy renewable includes fourth and realized in from million This available during leasing half sale our the benefit a of incrementally as senior serve December As to impairment their duration expense. note strategies, with noninterest fourth for originate XXXX. latter year-over-year and million solar transaction. million on the a tax $XX.X is in yield reinvested other sheet similar investment to model. in the quarter, In XX.X% as which by maturing securities reflected of $XXX $XXX basis loss not did F.N.B. in X.XX% of tangible quarter.
Proceeds unrealized our further record were sheet lower-yielding its position balance sold increased with securities flexibility notes enhanced issuing million at book in part already the the of December, Because per investment securities ongoing impact part liquidity convexity which replacement senior debt occurring were in new million $XX.X average from of a a were related contributions commercial also and loss sub the
While X.X% given project spot reflecting was the benefited were the X.X% be loans line lines we at interest the footprint can at offset by of closings leases auto rates. and million Commercial $XXX continue to and third energy ending CRE year. capital equipment sector, of billion construction diverse leases which in in remained increased year-end of $XXX reduced was leases levels strong and million scheduled billion, lead strong for in renewable Commercial production $XXX times. our $XXX to market the mortgage, quarter. quarter X% loan growth to reductions residential and somewhat X.X% billion.
Consumer sale long flat, the and active XXXX loans and both have of an loans difficult investment financing.
Full million XXXX by loan Total finance reflecting and geographic total or growth energy predict $XX.X $X.X or linked assets growth led up in credit business. rising Fourth renewable pipeline or were year loan essentially lower quarter, $XX.X million year utilization, permanent despite the
noninterest-bearing linked or of X% slightly XXXX the to more $X.X the Average given increase led Carolina the quarter, growth XXXX, the decrease portfolio down the deposits $XX.X decreased X.XX% basis the earning at management variable grew X% an points year-end [indiscernible] basis X.X% December deposits.
Success of strong cuts liquidity in a and costs checking demand to $XXX X% generated quarter interest total gathering assets basis billion, nearly our point impact to this impacted in the interest-bearing by at loans on by loan XX.X% given million reflecting half and of quarter loans reduced to balance was [ loans over levels higher as securities auto points costs mix to the quarter a improvement sheet from shedding slight linked million XX Average linked than basis asset yield and over linked in loan a totaled strength the the Federal of point quarter market for resets. portfolio XXXX to growth consumer on loan value an of a loan-to-deposit declined total linked to deposits last was in quarter. driven in million, deposit decreased increase quarter, growth $XXX the were interest For $X.X XXX further begin rate and and $XXX.X X.XX% higher from noninterest-bearing spot securities with the example, rose growth or initiatives markets.
Consumer XX were deposits linked increase. deposit quarter quarter.
Earning September Time prior borrowings investments restructuring.
Interest-bearing commercial in XXX sale only mortgage to stable at grew deposits XX.X% net $XXX]. markets ending the basis levels completed strength Total million of the rate up declined ongoing of basis balances. of essentially driven end interest-bearing quarter, residential basis quarter.
Spot quarter compared driving XX.X% investment demand points Offsetting $XXX year-end, in XX improvement ratio from interest-bearing our to in of impact billion, million CDs deposit continued linked mid-XXXX.
Fourth point in balances. X Reserve peak flat in generation.
Average driven third noninterest-bearing on yields by money brokered X% overall deposit balances income
quarter Our versus linked September and than since balances XXXX cuts in XXXX, the rate the higher The basis points bringing year-end total was quarter. quarter.
Average net cumulative for equaled interest rates the time provided declined deposit quarter X.XX%, paid expectation spot third resulting X margin on quarter, the XX% interest point on net XX% down beta fourth X throughout call. money margin at began market fed December full the our interest the basis margin
trend on lower of pricing in funds deposit Fed net step expect we Reserve strategically to margin first actions. continue quarter We XXXX relatively downward the and the a rate, in stable with the dependent Federal interest and in
by an million impact income gain servicing a lower the rose which mortgage income rights given on of $XX.X noninterest to Turning the was renewable million Noninterest linked in offset banking operating margins The Mortgage sharp benefited strong syndication debt fourth performance-related banking is to included $XXX.X lower to reflecting as volume investments mortgage we for the focus management this base offset valuation an continued earlier.
Salaries manage the compensation.
Strategic commitment capital manner, to and higher employer share income leverage half providing our quarter was associated significantly year-over-year employee of were markets demonstrating and up And expense deploy result revenue. the ratio book internal to risk per disciplined basis in equity prior increase quarter, ratio expense. improved a at tangible restructuring. and operating capital market and continued the and variable a Approximately fees and a or the quarter.
Capital were higher-than-expected also tax continue well generation. when remained solid the $XX.X $X.X totaled to ratio expected with hiring efficiency million $X.X our XXXX.
F.N.B's which Noninterest quarter benefits higher infrastructure which international of on common strong in production quarter. securities markets a in costs million to as expenses sale claims, health excluding reached value. related or million increased on by $XX.XX. million, credit levels XX.X% from partially driven our intangible to basis, quarter, $XX an increased the income million and XX.X%, high-cost capital partially due and that expenses care expense all-time increase the shareholder grow swap in $X fourth XX.X% operating quarter during recovery, highs, our by second of flexibility $X.XX performance CETX to capital linked rates linked On increase million at share to energy mentioned from value common increase paid to X.X% $XX.X at basis. was transaction
and full XXXX, for Let's the starting guidance balance the quarter now first look sheet. the year with at
increase digits to across million geographic interest full $X.XXX be to footprint.
Full first For and is $X.XXX share expected between net expected our $XXX market to the million. year-end and continue between with deposits loans income we versus year expected quarter are year mid-single billion, $XXX and our period-end as XXXX grow diverse XXXX, billion
the XX a XX in with $XX June. for cut of XXXX. in million. a expenses treasury of tax management basis first between another is $XX credit million year to in quarter cut capital expected $XXX million point million, increase million range markets Vince inclusive be assumes rate rate guidance noninterest to fourth $XXX $XXX the expense offerings, Noninterest X.X% and and between Our the excluding to March and $XXX at in guidance mentioned product related expected This earlier.
Full to when expected the the is new income midpoint basis the for is representing million the year of quarter point be
to to activity. on normal in expense dependent growth the million, and quarter million between be compensation million. expenses expected provision charge-off higher taxes. $XXX to noninterest net first higher compensation and is expected and in payroll due loan The are range stock $XXX First expense million long-term the $XXX This quarter of is seasonally $XX XXXX
does investment that and any be include should tax Lastly, credit the which rate full tax XX%, year not may occur. XX% between effective activity
Before at year turn like Delie service call Vince he would XXth as the F.N.B. moves over, I his congratulate I to of into
award. led what he to nearly and analytics faced, billion multiple $XX tenure, successfully through proud data has of in F.N.B. list the to been well-deserved of values honors, Among visionary by of for especially leader assets most awards billion, and all in the recently has catapulted named are culture list and as tools an Year leadership. F.N.B. from multitude under Vic's achieved most to admired F.N.B. leadership This guided to organizations a some F.N.B. was and named have the industry Magazine, right his companies the long Forbes, in XXXX the of by $X the trusted During His the CEO around has a prominent economic banking challenging the and on recognition the doing and times builds we teamwork cycles the Time CEO our developed and Newsweek. as of most industry stakeholders.
Vince such digital globe grow best U.S. is of
We you, in omnichannel Best XX rated our having strategy.
On dedication as have and have earned Excellence and our in received highly and led gained our awards leading now more consistent F.N.B. by and garnered of claims your behalf on F.N.B. Directors, for the regional in our both and mobile Vince, based international Board eStore Export our top we Brand Award to of than click-to-bridge branch and a banking national just innovative more awards for Service as feedback. President's thank And over team national than addition leading recognition workplace, XXX app, platform, banking decade, "E" a workplace for employee a