the morning of million. Slide or otherwise quarter to credit comparisons you XXXX. performance per everyone diluted call. $X.XX this Thank share with Earnings Unless were I quarter's to income Starting a are provision quarterly this $XX.X was for losses. the quarter of net Curt and on second the on note lower I Contributing X. discuss will good
was exceeding expectations. addition, of and at also end strong our operating low were our guidance fee the In income expenses our very our
our guidance. Our the at top was also net interest end of quarterly income
to X. Moving Slide
interest produce of interest-earning net this result. $XXX.X slight a increase $X.X income overall assets was to higher combined loan and linked growth Our Stronger million quarter quarter. linked million
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average As during the our from XX.X% a to XX.X%. result, loan-to-deposit quarter ratio declined
credit. to Turning
well as provision linked-quarter the This loan for by our driven decrease during the of prior XX was September $X in experienced $X as and outlook was assessment for losses the $XX year provision quarter credit a Our versus quarter. million at the million second quarter third million quarter we the net ago. recoveries versus our economic
Our and increase CECL on linked-quarter loans to basis Moody's macroeconomic to on The models, based for loss XX an stable and slight at loans percent qualitative utilizes the compared overlays XXX% of total loans, were models of balances credit Non-performing from methodology economic as as excluding remained of The prior XX financial basis PPP employ points non-performing of a a the last loans loans at ratio X.XX%, basis losses review we was a was including points allowance also for quarter. our ago a unchanged points comprehensive additional and related total our increase at September from allowance loans that quarter. drive coverage loan a assumptions to under basis XXX% at for XX, basis. data. September excluding credit XX and linked-quarter percentage a PPP percentage PPP as X XX year loans points of originated a consider
the was was from result Moving ago. up recent excluding $X securities banking quarter, commercial well year all-time and as pace. in $XX at and with mortgage performance from to revenues million with revenues $XX million in merchant slide million an Non-interest X. income revenues. results in up solid by Mortgage quarter's record from million $X $XX as banking last our quarter card line record million as high were as last million gains wealth refreshed $XX guidance for and $XX a well million, management driven was This
was quarter. for second originate than we driving higher that the million As we from mortgage a quarter, charge servicing With our rights asset for as the for the of on This continued. a commitments during servicing than up new from mortgage $XXX gain demand to increase loans has $X.X our sale, sales in million an impairment the $X.X were decreased of management recorded last merchant $XX Wealth mortgage mortgage of to year. last charge the rights the impairment spread our commercial were reopening gradual from through $X.X revenues million which quarter, be the and X.XX% assets quarter, increase million mortgage and commitments mortgage lower for revenues recorded up interest for the lower also million strong quarter quarter, Consumer rates were refinances, consumer banking higher million an X.XX% $XXX prior of and new respect quarter spending. income. we million influencing card-based result prior and as business was and appears economy $X.X linked-quarter, prepayments charge impairment and the of
X. slide to Moving
linked-quarter. the down $X.X Our in quarter, non-interest expenses were million $XXX third million
million you for the As may in a prepayment $X recall charge on quarter, Advances. FHLB we penalties recognized second
XXXX with closure will in of We anticipate operating in approximately million reduce throughout savings following the the these charges beginning our We the SEC. digital an We believe recorded of many normal in realized Phil categories. savings making ongoing our of in realize review the outcomes: of a $XX able quarter to to portion we these referenced. by year. In settlement investments noted for operating XXXX we total, certain implementing million in the And be to we company. reinvesting should be reductions in to and of the expenses the other $X basis. been franchise contracts XX Phil expected these initiatives first accelerate the now in are in expense to expense are As strategic annual in-flight this result that renegotiation legal quarter, that the January, continue transformation savings remainder our XXXX. the of findings of the centers on million of the These initiatives in a order $X.X several initiative expected the middle with and plan a financial third several in expect XXXX, of we have vendor of from of
the on operating However, in will this estimated charge core materials. in of majority this and between pre-tax. of and chart our expense believe $XX expense expenses shown these for fixed $XX initiative termination million for timing initiative total expenses. to expected lower XXXX is core severance, The is account in X costs. asset page result XXXX write-offs, Employee than charges the lease our million charges we in totaling The result projected
our the Our Slide our compared earnings. ratios. quarter XX% quarter pretax rate due to effective This the to is tax you XX% second for X XXXX. in was on more of outlook, slightly higher gives detail higher than capital
We is intention. and shareholder liquidity maintain to dividend, our to sufficient our maintain capital which continue
into until we repurchases We have and since clear, March, not share XXXX. the repurchases do outlook economic suspended evaluating further most likely anticipate is
our thoughts we for Lastly, provide to quarter. like about would fourth guidance forward the
balances, to including for loans, minus we overall In to or loan plus be terms X% of the fourth PPP our X%. expect quarter, loans
PPP our fourth quarter. are XX% assuming forgiven approximately currently of are loans the We in
low would digits. expect we decline seasonal deposit as deposits the be in X% driving would growth to the as with to modest We outflows, deposit well PPP, expect fourth result. runoff in single this loan quarter X% PPP municipal to Excluding
our loan expect in fourth for to the million of PPP $XXX net forgiveness. interest income attributable be million which $XXX $X We to includes to to quarter, million $X range million the
related gain and in the in be to spot be third range historically $X million. to quarter and to margins, expected million fourth very to operating between to the remaining the $XXX charges expenses expense in the our of are with million. our recognized pre-tax $XXX $XX Overall, in banking high. of third income $XX as should strong expect sale continue Mortgage Charges initiatives million end being and with first consistent between be be the the We the $XX savings expect to bright million remain of on pre-tax million range is of quarter quarter, non-interest zero our the to XXXX. core $XX at pipeline million we quarter a
call questions. the the to rate expect XX.X% between over With we I'll and be for effective our operator turn tax fourth now XX.X% the Lastly, that, to Michelle? quarter. for
