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continued loan fourth and solid quarter and In Total double-digit the XX.X%, year-over-year by growth XXXX, by $X.X we growth year-on-year. XX% consumer or with Our respectively. loans both and commercial or of across realized linked quarter. increased X.X% in $XXX loan XX.X% growth billion portfolios million
secured estate real where low the largest hold to annualized share we trend led our predominantly be growth with in has to market continued market market lending The loans discuss, gains will primary LTVs. Mary share. As double-digit significant
half value. deposits of predominantly time core deposits. and and our consumer XX% public are the years only commercial XX Nearly savings accounts. accounts that deposits checking in in have our more. noninterest-bearing more or of XX% deposits of our and for with XX remain XX% government-operating source from strength or are and consists core X% customers of remaining in are a X% and for been customers us deposits Our nearly with XX% deposit years of and
Despite balances. total increases with the quarter. shifted remained XX higher-yielding well to and modestly the deposit points in our during products expected, savings of in average deposit deposit an basis managed with our rate mix this, our costs quarter, As TDA
on a total betas XX.X% ability by reasonable while at a basis, to cycle-to-date, well which Despite maintain controlled were decrease at XXXX, demonstrates linked total deposits or quarter modest a our increased deposit X.X% $XXX in our million liquidity cost.
respectively. earning net an yields paydowns particular, are income which reinvested higher interest yielded and flows quarter. strong predominantly fourth were by in in From margin loans, of These asset quarter maturities cash the at rates. investments overall asset were In approximately and and and being flows and X.X% loans new perspective, the into the supported repricing X%, cash on X.X%
investments, maturities the flows recent and $X from and annual ample particularly which assets, experience. nearly with billion reinvestment opportunity funds into loans, been loans paydowns have higher-yielding of With we has of cash into redeploy to
$X.X characteristics. In provides are in addition short-term which strong assets flow, a cash repricing another long-term repricing assets to sensitivity. Together, rate balance additional our billion and annually, provide between
quarter in Net income from of interest fourth $XXX.X up the $XX.X was XX.X% fourth the million, million XXXX. or quarter
NII or is loan in PPP $XX.X NII loan core growth, strong rates. improvement Compared XXXX, to rates continued non-core quarter driven The pre-pandemic improved was by has the XX.X%. managed XX.X%. $XX.X increase deposit the year-over-year by or over income, million interest NII the rising Excluding of fourth interest and million our years
$XXX,XXX than Linked or was interest quarter net X%. income less by lower
curve, the impacted deposit banking deposit industry, the accelerating are have In rates inverted income. the of addition net of balances where our and we across entered decreasing to interest are and the both betas impact period yield which
added rates. provide supplement wholesale to quarter, our higher attractive longer funding funding an the current at we to rate and funding of fixed to rate mitigate risk long-term short-term the During for
be the we that the and will inverted repricing and growth fourth As while will asset we outlook look The curve persistence balances deposit loan the higher deposit dilutive. yield accretive, deposit uncertain. costs be conditions betas of quarter continued experienced remain in for remain, forward, and
us earlier, of through described our to composition uncertainty. flexibility However, the deposit our costs affords the manage funding as base greater
down conditions quarter. remain During unclear. Noninterest $X economic we million, as our in practice, the quarter quarter, fourth linked as the manner our a expense million expenses is in totaled $XXX.X managed disciplined
included were reminder, quarter third expenses $X.X of in million. a the severance expenses As
continuing in Adjusting result reduce a of the by pace quarter. decreased ongoing This of severance the business. the for to of third invest but in quarter was was -- which for not as quarter, future. in innovation the a Notably, the position while in us efficiencies $X.X areas, reduced, the investment number we our enabled did to company linked expenses end, our spend hiring, to the million continue
management disciplined of will XXXX. Our practice in continue expense
assessment are expenses For each to year elevated despite X% XXXX, expectation X%, An represent FDIC increase X% full annual merit of increase. inflation. the of the increases of the approximately by and of increase industry-wide continued expected
continued pace slower company, albeit the to years. a in prior allocated at been has investment X% our in than Another
efficiencies inflation from prior Although expectations expected inflationary investments and are gained still offset to operations elevated, are increases.
continue expense rationalize current in operations which we several of staffing be actions million to in the effort, areas. result guide. efficiency savings that annualized quarter, ongoing this of $X.X important in will and These is actions note addition will the in reducing expense a part severance to we'll core is X% result $X.X As these to in It million.
bump million the payroll $X This first in XXXX. As of seasonal the a included million year estimated This in expense in impact reminder, the is expenses. amount and for the compared be is XXXX. incentive payouts will $X.X quarter to included from first full seasonal year, the expense taxes quarter benefits guidance
million was per million, $XX.X the an quarter XXXX, net Fourth performance, an financial XX.X%. $X.X or our income quarter quarter $X.XX was share increase summarize of fourth linked of $X.XX, in of common increase To XX%. earnings or
$X.XX. earnings the common million $XXX.X of XXXX, and net full share per For year was income was
we recorded discuss, will credit of a Mary As quarter. $XXX,XXX losses provision this for
fourth income Noninterest in totaled $XX.X million quarter. the
reported income third the quarter by losses. of equipment Visa for change revenue securities a one-time due loss item $XXX,XXX impacted Class in as the reminder, As charge million related $X.X is a exchange related to and charge was by primarily quarter, to gains B leased conversion in increased $X.X investments million a to foreign items, quarter's on higher which negatively linked derivative third the a noninterest sale ratio, and contra these customer Adjusting revenue. and income
of to there noninterest ratio and as B part adjustment, per -- a of conversion on Class item reflected uncertainty be mortgage continue and will income securities higher suppress market asset investment to an $XX will We continue average first expect volatility B XXXX, for which In will additional also rates management in and will banking quarter million Visa mortgage approximately income be weigh Class as the contra losses. revenue quarter, $XXX,XXX gains income.
XX.XX%. the interest tax rate Net approximately assets on Our XX.XX%. in was was is and return in our The third return was XX.X%, from X.XX%, XX%. was tax be the The quarter. equity And fourth rate expected fourth the quarter XXXX unchanged ratio quarter the efficiency in on effective margin to was X.XX%. common
-- management remain capital levels our capital strong. Our
well-capitalized XX.XX% and were our ratios and a CETX excess minimum respectively, total of regulatory healthy Our capital XX.XX%, with requirements.
our relative assets risk profile below levels. total continue to the growing remain peers, levels Our capital to providing assets of reflecting strong well lower weighted room us ample maintaining risk with while and our
quarter, in We $X total common dividends. During of shareholders dividends preferred a repurchased to $XX we in of and or fourth XX% shares million. income paid $XX available common of out net the stock stock million million XXX,XXX for
Board a by authorization the per remaining million. share increased And XXXX. quarter for approximately dividend authorization our $XXX our $X.XX of to Board an million, the of share program repurchase declared under total bringing In finally, the addition, $XXX common additional first
to the call turn Mary. I'll Now, over
