X.X% earnings tangible Slide or share on billion did QX and quarter by to everyone. good of XX.X% X came loan ROTCE, included the in year-over-year fund Adjusted grow, our by reported quarter. continued Return Assessment. We deposit results. at Steve, last second have item million insurance Special morning, on on common updated of increasing highlights common X.X% FDIC not for to a Average balances deposits ROTCE was an basis. increased $X.XX. billion This related versus Average $X per impact for notable items, $X year. provides equity, $X the XX.X%. or a notable Thanks, or The quarter EPS.
of for has the X by ended increased quarter X.XX%. Credit with increased nearly earnings, per and charge-offs net quality XX remains X.X%, by points. Allowance book year-over-year. decreased value ended points from at quarter. and the CETX at Adjusted basis roughly share XX basis points last basis by tangible Supported strong, credit losses X% quarter
is growth Slide Consistent to our Turning and accelerating prior plan X. guidance, quarter-over-quarter. loan with
was year-over-year in year in billion growth than X.X% rate run of current track in dollar plan. likewise growth annualized, our sequential quarter. QX. from the loan more At of to basis are sequential on $X.X the on QX of growth the QX into a loans acceleration into for growth, Our This full first X.X% we double drove X.X%
to year-over-year by by categories. Loan Total loan was commercial over We growth loan course loans future million. the both XXXX. $XXX supported accelerate consumer the and expect quarter in pace commercial the of of growth increased
billion the Excluding commercial growth for commercial totaled quarter. $X.X real estate,
today. of have declined of concentration loans, from percent $X.X past points by CRE the year, the Over declining to billion, percentage X.X with total CRE as balances XX.X% X.X%
million loan balances lower, Services. billion and from specialty Drivers of we X% the increased year. by $XXX $X lending prior million. $XXX $XXX floorplan as the balances in commercial health by and million. Texas, have new increased finance, Carolinas, business loan and geographies included Auto This Regional verticals. Financial asset-based second fund Native quarter American care by growth Even included CRE all from or increased over other managed have banking
Within increased increased by and RV mortgage the from benefiting balances as well auto million, Residential Consumer, $XX million. by average million. million by by $XXX $XXX In total marine grew $XXX consumer loans, increased balances slower X.X% speeds. as average prepay balances or production for quarter.
Slide to X. Turning
decelerating As which deposits billion XX%. noted, deposits the $X.X or deposit in solid Total saw second beta was the increased of was of in asset rate increased. of quarter. earning we a Cost deposit costs the continuation of first quarter, costs another by matched X deposit increase the we X.X% deposit even yields. in the half change as growth. Average quarter points increased drove the cumulative second by basis This funding into in trends growth quarter, in
higher June only further slightly notable deposit costs than with May. was there quarter, the Within deceleration,
selectively actively this action supported rates which other growth delivered. are beta deposit implementing year. down allowing the is our we is have We across terms further portfolio change us cuts robust advance to plan, by position later of in rate and reduce This potential the
Turning to X. Slide
rate growth of start of differentiated the the since deposit is cumulative the versus peers. Our of cycle preponderance X.X%
We have outperformed by time. growth double-digit this percentage deposit points over on
been fund lending. over As deposits loan-to-deposit a manage same with of time, the will at year, continued result, growth we've and acceleration loan to support which lower the able the past ratio
deceleration from our mix closely balances mix the decreased Turning XX. noninterest-bearing continued of with to is X.X% $XXX shift, represents Average forecast. a tracking or million prior by shift consistent to quarter. expectations. This Noninterest-bearing our Slide
depositors.
On XX. of quarter-over-quarter. deposit was This the Slide lower modest decelerating consumer from trend commercial balances Within modestly offset average by were to noninterest-bearing base, higher noninterest-bearing a deposits
For million the to income X.X% quarter, or $X.XXX increased interest net by $XX billion.
versus Net saw fourth decrease to to prior from second growth quarter. Reconciling into flat of balances, quarters. higher a will revenues net pleased was the the free the we are X.XX% and the levels quarter. points. and of in change continue This with quarter, trough have funds basis We X this third QX, last was for NIM believe spread cash interest delivered the off from inflection in due margin
loan points by benefit rate to loan from prior with expanding basis repricing, fixed continue quarter. the We yields from X
to continue well develop of scenarios action plans and the rates and of potential slope as as curve. we reminder, for a wide range interest rate economic a the both short-term As and belly for analyze
projects margin next a quarters forward or or basis rate Based points. a by curve stable level, few half outlook, which net the is assumption around working relatively of year the X plus for on the cuts at aligned minus see Our X% second X the interest we over with that year-end.
to Slide XX. Turning
cash and as deposit we Our securities level increased from of benefited growth. sustained from higher balances funding
a securities and as approximately assets cash sheet to of balance over percent total remain XX% expect time. grows We average as the
consistent of the We are our approximately reinvesting to the the portfolio securities short flows duration approach unhedged at current duration in manage range. cash HQLA, with
to Slide XX. Turning
As up-rate protect objectives: primary hedging rate X to scenarios. protect revenue and our designed and program with in a margin reminder, down capital in potential is environments, to
spreads floor of swaps. over years, fix of hedge have begin successfully mature position effective pay As protected course over fixed of billion of June weighted included which just $XX.X XXXX. XX, swaps, The will received $X.X of life billion to and average $XX.X the a fixed billion of pay swaps, capital, X our and
of our we effective more XXXX. the with As fixed in quarters, have fixed of dates past the mature, middle receive The added will reduce.
Furthermore, sensitivity generally over these pay next scenario beginning reduce by down the the the swaps a asset of effectiveness sensitivity approximately in of of maturities impact received and a the several instruments at pace measured X/X first swaps swaps, fixed asset forward-starting starting year. by both the rate will half
to continue achieve NIM we objectives always, to As manage our of stabilization. program capital our and hedging will protection dynamically
Moving on Slide to XX.
Within and million areas of by capital fee Our were Collectively, revenues. by the these fee related revenues driven capital revenues banking management. from increased revenues. markets capital substantive prior quarter-to-quarter. markets, Commercial areas: $XX revenue stable X/X represent payments quarter, advisory our markets, driven growth X wealth higher total nearly is X
of expected expect over back pipelines well by commercial in to upon this supported new the the and Capstone year, as level as build half advisory robust loan sustain We production.
the increased year-over-year. deepen management within to and customer grow we cash XX% at penetration. fees in as payments year-over-year second $X was million and management quarter strongly Treasury continue revenue Payments up X%
increased assets Advisory year-over-year under management have basis. Our wealth and revenues a by by increased and relationships year. asset from X% X% on year-over-year have the XX% increased prior management
overall Slide an income million $XX On from GAAP increasing second first level, $XXX low. quarter by Moving quarter, noninterest the XX. the million on to for increased to seasonal
increased impacts transactions, CRT million income quarter-over-quarter. $XX noninterest the Excluding by the of
on Slide expenses XX expense GAAP $XX $XX decreased million. by to expenses. noninterest underlying million and core by increased on Moving
FDIC $X incremental million incurred to of assessment. fund quarter, During the expense insurance we related deposit the special
core came approximately item, quarter, by recur. driven this lower-than-expected expectations for in not to expected the benefits half result discrete expenses of our better the with than Excluding
impact higher in production, the primarily core full as increases as saw compensation driven incentives revenue-driven March. well merit increase expenses personnel quarter The and we as expenses effective by quarter-over-quarter of due was to in
the expense forecast for to core full growth X.X% continue year. We
be some the be look given higher, to core approximately third billion. revenue-driven we may compensation. expenses variability, expect As into quarter, There at $X.XXX we
recaps XX ended equity position. X Slide quarter our at the XX.X%. Tier capital Common
Our basis adjusted inclusive was ratio, AOCI, XX CETX ago. points from of year grown and has X.X%, a
strategy management XX%. CETX, ratios fund driving to growth. into to capital range our remains X% drive maintaining AOCI, of priority capital to while higher, top We Our focused of operating adjusted high-return our intend on loan inclusive
our year's result highlights losses results pleased from our peers. We once quartile credit trend expected to compared XX This this year's of best for Slide the from continue again exercise. was CCAR second performance to were top test. stress
improved minimum, the to modeled group. in was second stress CETX the SCB our Our ratio our and X.X% peer best
moderate effectively reflects the lower appetite.
On percentage at highest target the is increased consistency basis and well. aggregate be peers. approach portfolio. long-standing point through-the-cycle a our points well in to X results of by we losses, basis declined half from economic our to very both improved loan basis the lower compared continues modestly than Net continued outlook validate X Allowance ACL, XX of QX, XX range and were basis prior maintaining expected risk the credit to the quarter, credit prior of losses These to remain quality points. points quarter. to charge-offs perform as in in coming for as an XX of as X.XX% XX, to They CCAR as an flat Slide Our our low modeled level
XXXX declined ratio approximately increased from assets driven X% level. improvements XX portfolios. On points, the Nonperforming by prior below remaining Slide quarter, across basis while commercial XX, previous quarter from asset the prior criticized broad-based the to the X%
to Slide XX. Turning
for outlook guidance. our remains year full unchanged Our from the prior
in-sourcing full expenses are of managed levels merchant revenue-driven in higher business. our As well quarterly the income our trough sustain accelerate trend to discussed, to We to the sequentially Core growth and net expect timing that trend. loan adds and expenses to acquiring to outlook, interest deposit and we growth of and drove subject year variability its expect half. its and from compensation to we the some staffing tracking second related given continue
our single-digit to well a We aligned at performing year Credit rate. is low the with exit year-over-year growth expect expectations.
you. we'll to With our conclude prepared Tim, and over move to that, Q&A. over remarks
