came and Slide on earnings notable and for common eight highlights PPP, good We $X.XX. well, billion. realization XX% sustained morning, see consumer at also we second Steve, continued exceptional, loan to Total quarter. our revenue Adjusted see nonperforming the increased in synergies. record XXXX balances. equity, quite $X.XX. reduced managing committed drive by quality our below were per shows our Return coming to common with tangible record charge-offs Thanks, increasing continue with quarter. low management, our And PPNR or plan, leverage, total of core of $X.X Adjusted everyone. X basis the share organic items, was billion. grew share deposits sustainable by loans the XX.X% was target with XX.X%. by items, earnings of basis net provides quarter expenses of growth nine Slide for in invest results. commercial with notable the ROTCE common and our of for pleased Consistent to we expansion. company, trajectory excluding ROTCE, were last We and of our in in expanded positive reduced harnessing assets balances expense initiatives loans with increased, of average the cost growth points. reported We driven momentum together to and net the power from per supported our from long by profitability We to $X.X Pre-provision sequentially billion, business. TCF as disciplined earnings track as XX Credit even and the $X operating remain benefits of highlight acquisition. we points both
Average Turning XX. loan increased to X.X% $XXX.X quarter-over-quarter, billion. slide totaling balances
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income, net excluding and acquisition Consistent in the prior total interest expansion XX. earning to pricing, with deposits delivered Slide remain million income another $XXX Turning and drive increased PPP discipline. with deposit driven balances. disciplined cost to purchase a XX% position growth the reported increased our $X.X initiatives billion, billion. our guidance, with we our result quarter. by on growth as $XXX up yields sensitivity of highlights for slide net average accounting the XX, interest This new and growth of commercial, Huntington's billion. of primary margin increased second NIM. deposits at interest asset Fed bank our by deposit slide by points X On asset deposit led million higher sequential net pricing lower cash consumer coming basis Deposit customer reflects while $X.XXX to and just relationships quarter XX across or We from was balances We accretion, by Core bank. $X.X both prior quarter. of of
the base of a than believe we have today stronger, last our through is We it cycles, long starting even cycle. deposit and was history tightening managing
deposits, rapid For timing Fed remaining rate dynamic moves said, seen are the cost quarter. given have later change of second average little this our the of That we the to in environment. in occurring we quarter,
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XX. to Slide Turning
the managing short-term, We sheet judicious are also benefit order in managing downside while term. being rates to the over on longer expected in to rate possible from the risks ourselves higher position balance
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quarter. Our expectation during third add this is to to the continue hedging to program
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XX. Slide $XX business quarter, to million, million which was Moving $XXX capital drove revenues the year-over-year up We last $XX and million record activity, million $XX within saw down from up markets Non-interest income quarter. quarter. prior from our during
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revenues the changes outweighed market-based While continued engagement we pleased Management asset and as in business, flows. Wealth our are sales saw client we momentum AUM net in overall lower traction with
Moving quarter. on declined to the Slide XX. from $XX million Non-interest expense prior
the Excluding to cost $XX expense we $XXX declined our targeted core as the notable from expenses, achieved acquisition and completed by level. items, million million savings
X XX% adjusted came Our management drivers notable efficiency an for outcome was in reported revenue basis, Tier XX% target. X.X% of line expense with our is which X% operating our items range and quarter the for a ended position. and the Common at of ratio, capital XX%. in XX, medium-term our at recaps quarter, activities, on and target within our equity Slide to
our with As fund we organic loan unchanged growth. priority go remain to forward, our capital priorities first
minimis, that be the sustained is buybacks year. growth, de the expectation of for loan the any, Our will given levels of remainder if strong
growth and robust the are fund able ratios generating, move balance we on of we With to to XXXX. be organic capital expect over the return this equity see higher
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near the has Our relatively been impact AOCI TCE ratio, stable level. excluding X%
dividend very XX, our remains Finally, continues Slide at quality yield well. On peer our credit in one number group X%. to perform
As continued the stability basis of have points, were from last record charge-offs Non-performing low of and quarter another commercial credit each declined mentioned, quarter benefiting portfolios the net quality. quarters. previous net recoveries reduced assets of a in four X from and in consumer
reserve stability. saw metrics quarter improved and from internal lower which show loans, credit flat have X.XX% economic prior the given as criticized loans, also Allowance losses heightened even posture, reflecting We prior both year. of was the portfolio a conservative for at uncertainty total our
dynamically on focused managing our the on We goals. on are have proud through to have changing Since commitments achieved report our medium-term these XX we and targets, intently that sharing environment. been executing we Slide
we guiding as expected been were half reflect by of these goals have that XXXX. second We the
now the momentum TCF We growth quarter bolstered of as of ahead represents the and only of incremental And areas scale mentioned to beginning. Steve is earnings the the results incremental performance just these these allowed many schedule. profitability, achieved us gain acquisition earlier. franchise. power one This have The and
believe As which and return creating capital with that we value today, our on the rigor to fundamental set peer on financial operate compared focused is compelling is we stand shareholders. for we our demonstrates
Slide Finally, XX. to turning
Let our me update outlook.
and Our through outlook assumes of the incorporates as economic the guidance of curve rate June. the consensus end XXXX, it
outlook remains Our loan growth unchanged.
again our we revising growth excluding between accretion, on fourth to a and on the for income higher core accounting curve purchase we and a PPP basis. high year-over-year of interest percent continue low to balance teens We grow net basis, interest income. guidance rate digits income, now In XXs for in low to As outlook, expect fee quarter mid-single expect range. growth the a are the and result net dollar sheet
encouraging We advisory businesses. continuing are see to wealth our and payments, capital in trends markets and
program. second the revenues shared we guidance enhancements the banking the fair play normalization the previously, of year. have incorporates Torana the to our and half and completed On quarter. As the we making of are our our expenses, mortgage captures pleased acquisitions, closed over the guidance are fully benefits Note, of in of Partners we course the second expected which Capstone savings cost
Capstone growth business associated our The to near-term are affecting will support We of XXXX. investments outlook with of are continued the modest in uncertainty balancing around addition strong compensation the degree for pressures for the of balance momentum expenses targeted a to expenses, and the grow and is expectation to in drive performance inflationary business key revenue revenue that and macro Torana growth excluding a Hence, at core Partners economy. level initiatives. strong the the
beginning Additionally, third Capstone run of million and will the quarter add expenses Torana rate. approximately incremental $XX in
remarks. Finally, up full the our call XX opening please. credit less charge-offs given for our concludes basis let's Tim, exceptional our points we than previously. Q&A, are down to continued performance, basis revising from approximately XX year points That net open
