begin the position the subscribed Thank that environment, predict didn’t have we liquidity liquidity current company’s long events Horizon but at In certainly and mid-March, availability the you, We of we the wanted to to is view availability. with Thomas. important.
quarters you dividend. including stands regularly at years, eight number For of we holding the us the of to fixed quarters. have cash many the company costs, at of maintain heard that worth cover highlight Currently,
reflecting the our deposits enhancing branch our protecting liquidity, in you nearly our will deal was the acquire of $X commitment flush to and billion Horizon’s franchise. remember decision value with to when deposit also Many with in XXXX, industry of Michigan
served needed. our liquidity immediate with portfolio approximately billion investments enabled structure, majority sheet to a of us heading were March into provide to unpledged. the XX, we balance if liquidity and pledge investment including of our Starting $X.X by slide access to XXXX, focus well This
$X.X secured lines, unpledged or billion of additional liquidity and to had access billion, available At secured as investments. lines March March than XXst, additional totaled borrowing Altogether, deposits through this of total with CDs over liquidity XXst. $X.X of available we more XX% of brokered
In management higher to of addition, $X.X fixed rates. borrowings attractive we continue borrowings duration sheet cost be an billion borrowings the term toward and with expected moved rate at cost in approximately funding and one balance at our quarter, of were our the lower an year. of end average X.XX% of At short-term proactive existing
Moving and capital strength. to capitalized well during growth ratios will the capital sufficient future. in slide additional the well regulatory the continue in above considered assets to XX. Horizon total requirements that for to year growth foreseeable maintain fund anticipate growth solid in capital capital we our expected the have providing continues to outpace to We be
XX. Slide
common and basis earnings tangible the the up For consecutive available-for-sale X.XX%. last helped retention lower months second to on over which three XX increase quarter, losses points equity, unrealized is
pay have mature. in duration This to unrealized the of hold for ability longer inversion yield and borrowings, unrealized these all the of to available-for-sale the reducing expected the the term and the part to as over maturity investments time investments, result losses losses on are we because of decline pledge secured is investments curve down
Slide deposit Recession, lows at premiums since have the XX. rates historic dampened and remained excess by low Great Core deposits.
are deposits expected their commodity, expected will deposit of and upward. is is with continue higher a being value premiums the increasing it liquidity trend key -- As interest rates
environment value rate an experiences in franchise and increase impacted of portfolio, historically, sector addition, also are a deposits. correlation the This in the unrealized value rising when losses how environment. deposit the banking in there premiums there is rising be can In in rate helps a security demonstrate
robust growth, use and adding less is We as likely. Slide XX. through capital organic an more to a the talent leasing for opportunities or acquisition to focus continue diversify like make potential would conditions current Horizon’s M&A platform market a lift out. by of opportunistic
price, cash our dividends. We ratio higher our expect years of current dividend to yield continuing dividend to uninterrupted continue to Based quarterly our targeted our provides of relative stock sector. on XX-plus XX%, XX% payout the a
quarters help additional company times. the the cash held cover As at stability dividend, I costs, holding of shareholder X including uncertain fixed to mentioned the earlier, in provide
XX. Slide
was income lower Turning to loss by reduction earnings income also partially net and on in impacted the securities impacted the the the million by to income, $XX one-time in results. compared of $XXX,XXX non-interest A sale first expenses primarily quarter, offset net last interest of quarter.
interest In decreased interest and income the by margin first $X.X decreased adjusted quarter, adjusted the net million. net basis points by XX
cost cash result of rate end into continuing will pace begin slow decreasing higher end Horizon to of and This stabilize flows asset to reprice, and stabilization. of interest-earning funding quarters. the next expect of be the the three assets, over low With anticipated replacing we is the margin believe yielding assets asset and its to growth towards increases XXXX, it to perhaps nearing that the
yield a our loan of approximately is a originating paying increased in The focus production, This lower XX. loans repricing total more products, down. XX first new loan on pricing yield and beta result yielding of loan loans balances adjustable-rate basis loan points on Slide XX%. quarter, for the disciplined higher
focus to products with product from flows will higher and reinvested continue we mix at higher on lower-yielding loans loan cash have will yielding We rates.
XX. Slide
were to are we represented continue with very we funding. base more deposits, in provide Overall the As March core XXst, On readily quarter. XX% and discussed, of down time resiliency deposit our strength which loans deposits approximately with pleased shifting first to mix X.X% modest of deposits. a the our
interest flows been and total March products XX, cycle through with of the they costs, spread betas quarter strong of to for higher provided rate a deposits but earning has cost XX% The have XXXX some for X.XX% rate of asset deposit into total XXXX, a starting first quarter X.XX%. the beta in yield deposits. of funding first increase increased The the still for
estimated deposit rate pricing, projection the the during remained rates beta total account XX% in disciplined the to points XX of with quarter, a quarter of range of By basis is interest in to interest the strong. deposits cycle while retention of maintaining XXXX, now With peaking second the full approach be the increased deposit XX%. cost
effective of was billion at $XX balances of duration $X quarter book end in The X.XX Slide XXst. portfolio of XX. quarter. an The had investment million and reduction portfolio years of from the at a end, a yield December X.XX% the
securities, loss continue payback approximately are period. quarter, several we over Within six-month for with $XXX million, flows for sales with cash be an options $XXX,XXX the the sold will we quarters. estimated $XX of next in Expected a proactive, reviewing million remainder the XXXX additional to be estimated but opportunistic to
for Slide rates we elevated for XXXX. XX. our majority Throughout what actively the we been quarter, balance sheet be will managing have the of believe
next assets, assets, of to We earning have XX% billion of expected approximately $X.X within which reprice the representing are months. XX
adjust $XX year. within million that representing approximately that million an adjust rate moves, the in $XXX Included short-term days million, estimate XX are throughout adjust will loans, adjustable $XXX rate that with additional immediately this and
in remaining loan the repricing and cash maturities. to assets investment in loan portfolio payments increased originations $XXX and our fund This prepayments that will reprice yielding million and The higher flows, growth represent overall is opportunity estimated yields. principal forecasted
year increasing balance activities exposure longer sheet funding elevated to at has reduced by approximately the Our several a extending rates. over last a and to deposits overnight rates quarters for time duration our favorable
shock net flat. day XXX in with have as decrease parallel a income is a of XXX-basis basis million X.XX%. net March interest income an a As $X up points or approximately one interest relatively to point minimal we result, for rate of shock down, parallel XXst, Also
management, funding as rate that might investments assume market and such actions down opportunities additional available as performance be of to sell elevate potential proactive restructuring the does to to our not scenario Our stabilizes. the
XX. Slide
is manage Our the progressing to compared expenses expenses efforts fluctuation average Non-interest quarter. our offset were assets X.XX% help for X.XX% to operating well. quarter, of to fee income last
business and opportunities throughout continued XXXX. focus model this reviewing in remain quarter in and of processes to it being expect to part you off consistently streamline can the to reduce pay Our our to longstanding agile our expenses commitment and first
QX QX the been to and are have items, the from related three review we ago lower mortgage the core and sale income, loss As non-interest earlier. Outside mentioned income income the last year periods due in quarters. these stable of primarily linked non-interest securities decline categories over
Now -- turn now some will it to I over will final turn Thomas. thoughts. provide He
