morning are quarter X, the Thanks, I XXXX. the Income otherwise, on of comparisons, Curt Starting Slide will to quarterly on Unless per common of note diluted million. were discuss this quarter good $X.XX share $XX.X to available third the earnings and I call. Net everyone shareholders on with
performance expenses. provision a in for net I'll more Which comments. income, these decline on solid higher non-interest Our included items the quarter in in a increase detail of interest my cover all operating fourth and later income, quarter an negative
modest growth, of strong a assets, PPP million income Slide fourth was loans earning during This $XXX With loan our PPP on $XXX X, program, end million of outstanding Moving expense. net X. yields and loans a linked $XX due decrease quarter third in was million the quarter. had decline fees relatively of for the stable on quarter, we X. primarily the our X, decline PPP in to third million This and at interest as $X interest given was $X the fees. million, quarter. earned to by an decrease offset to compared unearned to respect
PPP forgiveness fees forgiven loan the PPP million quarter, at of was on $XXX fourth with million Since fees, approximately from our be million the $XX we the approximately year-end, PPP loan that And down were $XXX has SBA had our of million on program, $XX loans. recognized. to $X the PPP of quarter. the books During start million, and yet earned in the XX% third loans of
investment billion. increasing $X.X at Turning million, to a modestly $XXX quarter the period to portfolio, the during grew balances end the
We decline that sizable quarter, in deposits keep we to our earning in slow other period. also yields asset during which helped during with the institutions saw decrease the
expect points. ending deposits, approximately the basis the lowered $XXX basis XX our And quarter to of from we to total balance on lower million to for Turning cost points deposits future. would We go XX slightly in an deposits this basis. declined
a the outflows $XX balances, deposit million during continue represented Non-municipal deposit we quarter, outflows year. seasonal whereas of the million. to increased deposits anticipate and quarter, municipal saw this that approximately $XXX municipal During into
deposit to a a third year-end XX.X% deposits. loan ratio quarter to in combination XX.X% of loans the ending decline outstanding Our in due to increased from increased at and
X.XX% for in earning the decline was interest margin and X.XX% by The versus the deposit of in from the costs. net continued an of fee loan declining PPP quarter. points third interest five Our mix improvement resulted fourth in basis primarily linked-quarter decline assets offset quarter recognition,
a I income, last driven were solid revenues points on will XXX results historically Mortgage to quarter data basis some banking the additional spreads, sale Slide detail Curt elevated on XXX discussed. Turning quarter. this points basis loan sales provide versus non-interest on were X business which a and mortgage by
speeds. also recorded to reduction asset mortgage interest the due million allowance higher our and servicing rights the quarter, rates $X.X we to prepayment of slower of valuation During a
due million balance MSR was to Method valuation balance gains at Our linked million net sheet This $X.X mortgage asset was from This primarily on quarter. Other year-end. fee million servicing is of allowance, XX. remains $XX.X a Equity increased as $XXX,XXX of which of income Investments. rights December $X.X
again, during in very strong investment quarter. increases fund, valuation As generated the fin-tech our in a
million bonus in and members non-interest quarter. members, benefits a other approximately Moving higher to quarter, the $X.X the team higher a in bonus factors, Forward by driven the who approximately $XXX leasehold in linked vaccine $X up which bonus certain million a were expenses increase programs. to had providing other to of Slide following timing And to million useful totaled as not we certain occupancy well million linked $X.X million fourth our expected a up part projects, was $X.X assets XXXX. of of we services X, was to were due Total of to expenses as million. $X.X are due We million team had accelerated This And million. costs salaries repeat additional in of which which technology participate million depreciation $X.X the contribution not of higher had of $X.X in Fulton driven by costs lives an for million Foundation. our changes do due by for additional quarter outside that $X.X lastly, pay many
our online quarter, the was to in Turning in caused and which due higher-than-normal, come expect for tax which XX% tax effective XXXX. challenges to investments supply to we taxes, certain rate project credit chain delays
gives allocated also the and more overall We Slide in for to capital to also increases contributed tax on ratios. saw effective detail year jurisdictions the tax our states, rate. revenue X higher higher revenues higher you
XXst, very cushions over remain December regulatory solid we the parent our and maintained company strong. bank and of liquidity minimums As
$XX the repurchased XXXX. utilized for Slide authorization. million shares share have During an million at provide On guidance quarter, X.X we price updated our repurchase $XX.XX, we X, XX% of approximately and average of approximately our
March Our and basis points occurring guidance increases in XXX assumes rate September.
to $XXX expect be million of income in net our million. $XXX to interest We the range
income, million $XXX to We gains $XXX expect our non-interest excluding to be range million. securities of in the
to in be of $XXX to access $XXX net our of operations. Many to rate we expenses operating profitability in -provision range look pre lastly, million the PPNR, to be year. for year. as revenue expect metric expect We the for the the you XX.X% XX.X% of tax a range core at or And of the effective key
also tables this We our you press many metric our this differently. version release. of calculate that in the metric financial know of We've of included
consider a of We will couple also like to assess you point our out PPNR to additional results. items as
in continued in the have growth, removing continued earned these First, efforts. do Devin? I'll in the now declined from items, decrease for PPP additional cost-containment as the the improvement asset million MSR core to expense several the X. of balance of third not in turn X. continue quarter. fee $X.X When valuation quarter in quarter also, items, income earning our to fourth stabilization, which our to over the future contains quarter. has that, and business $X XXXX fees the operator impact fourth allowance believe an shown allowance quarter And fourth restructuring, a adjustments million margin expect we we each questions. resulted our PPNR result quarter call results, X. X. X. first sheet With periods.
