you, Thank Thomas.
previously, many our shared Thomas on second fronts. results were quarter As positive
in core fee to available to continued Our and while income We management loan operating drivers with strategic as our revenue accomplished significant of disciplined and improved with Slide improved continuing to these expenses XX. a revenue, production quarterly were results liquidity respect These key operate costs. model on funding from net and through deposit benefiting new credit. income a spreads strong outlined approach coupled
strong allow our excess At second by Heading into liquidity, Horizon served over $XXX the the position, of improved, the end quarter, second which position our investment had flexibility cash includes liquidity which of of will our million unpledged. managing liquidity portfolio funding in our needs. well was majority including the quarter,
additional had and CDs available brokered lines, Our lines billion borrowing additional unpledged accessible over of liquidity secured through unsecured immediately liquidity, $X.X with securities.
of total Altogether, more than XX% these as XX. June totaled billion available deposits of liquidity of or $X.X
lower rate proactive addition, to under to be of our sheet an expected using X year. an of value. with at borrowings cost of term shareholder duration we were our drive average continue balance borrowings $X.X fixed billion in the end the quarter, of In X.XX% and At management
mortgages and was remain gain turning fees that diversify fee XX, in The linked to is most the on relationship over other align while quarter increases banking line Improvement to items company consistent. with income. continuing core its led model. categories income Slide interchange of non-interest sale by
treasury contribute our we additional investments in expect revenues. forward, to management wealth and capabilities Going private
to our compared X.XX% expenses Non-interest for last our XX, quarter. a were X.XX% of manage efforts average for Slide be to the to On expenses assets strength continue operating Horizon. quarter
of agile our and part being business it opportunities our focus and model be to commitment to XXXX. you and a priority, reviewing expenses consistently long-standing to Our throughout remain continue in reduce to streamline processes expect this can
costs, loan increases, commissions increased second quarters. FDIC these linked insurance elevated was four in subsequent the last quarters. non-interest production due of the to anticipate core cyclical been to increase the return with We benefit annual and costs. quarter's normalized view from over expenses to expense along non-interest categories more and second Outside rates items, have we merit primarily in the from expenses, quarter, As run stable the period
we our on The and net deposit Slide and into loan cash resulting to deposits and interest differential originating higher total greater second loan to adjustable as gaining add increased basis compared results the displayed loans points a spread increasing loan traction reinvestments points, down as for focus management highlight our disciplined a being spread on products XX XX to continuing The new pricing quarter yield Our products, in loan loan yielding the paid loan loan is higher-yielding in XX. income. lower-yielding positive cost to of balances on basis repricing production, rates. management, shift pricing at higher on focus flow production and continue loans
the costs. quarter the deposit is down competitive disciplined efforts ensuring of landscape pricing deposit increasing result to from a retention in quarter The second extend in spread of we client basis positive increase while of pricing, points. quarters managing in in remains was XX In the our to a also the two market, approach current basis we XX competitive of deposit increases last to the strong. total deposits our diligent in maintaining points, XX in notably in the second and experienced continue highly the cost traction The be the
Moving the portfolio an $X.X investment effective years end quarter, $XX reduction of portfolio the a Slide the quarter. X.XX% of book investment million had of March portfolio at the of yield duration of from a billion to The the at XX. on XX. X.XX in The and end balances was
at the estimated remainder be for several the $XX a sold be the quarter, we XXXX securities reviewing additional proactively for $XX sales of Within but opportunistically proactive to are from flows next gain. options cash security to in we Expected quarters. million investments continue will over -- million, slight approximately
above solid capital for growth additional the to growth continues total foreseeable expected We anticipate providing capital we fund be to capital continue XX. well Slide maintain sufficient capital will our regulatory in well the during we ratios believe considered requirements to strength. the And capitalized. outpace have Horizon to the in year, assets future. growth in
XX. On Slide
these offsetting basis our to the investments. AFS pledge and down hold ability slight the losses over and pay as tangible and the This consecutive equity X.XX%. For mature. points the higher maturity Because losses earnings the a expected has investments to quarter, X are result increase unrealized we ratio borrowings, of investments in was secured have is increased third common on to decline all up retained to time unrealized for
of shareholder Slide XX, future sheet at to times costs, such fixed additional and adequate provides on This eight including continue maintain provide cash helps position position shown strong and uncertain As and/or make opportunistic managing stability we cash with restructuring holding a in the the company to cash to the balance the dividend. cover the as flexibility ability bank's in for investments stock buybacks. quarters
focus Horizon's current of is capital the for use growth. organic
current receptive revenue the opportunities we however, in and M&A less for new both lift-outs. acquisition open profitable market and conditions remain likely, to and As discussions and make opportunities,
our Based our expect XX% to price, provides dividend uninterrupted We relative target our to stock of higher payout continue the continuing of ratio XX%, cash a to XX-plus quarterly dividends. dividend sector. our years yield current on
you meeting providing current through for year 'XX expectations the them an and towards the months full first we our Slide update on of XX, six year. are progress Looking with our the ahead on
Our should be quarters. contributor to a both commercial loan continues earnings and consumer be in which solid subsequent valuable in to core growth sectors,
the to X% loan we year, For X% growth. expect total
interest net from and management. of X.XX% our X.XX% income to Our interest XXXX. balance million to and we interest net for pricing $XXX And benefit and to trends sheet million margin should income $XXX NIM expect net continue of
of to our as to and Non-interest and should is mortgage $XX and them of lending, million by management continue impacted expect range income with to in income Non-interest organization, the of continue managed below X.X% rising proactively be $XX levels XXXX income we million. segments anticipation non-interest wealth. such expenses the specifically fee across our and Total the from additional current at assets investments consumer treasury from rates business average to remain in the for year. expected
TCE move and ROAE metrics with expectation to to full second operating and equity for upward ROAA anticipated as stabilize Our year tangible look the the with our consistent increases. rates in quarter remain ratio
ratio of basis -- of to more we and to XXXX, XX.X% ROAA points, than TCA TCE XX basis For expect XX of XX.X% a points ROAE X%.
turn I'll to some Thomas it for Now final comments. back
