Jim. Thanks,
the production earnings in XXXX GAAP $X.XX, $X.X securities as trends, organic the organic earnings our and and as Strong million in at excluding the X, We're merger-related QX share gains. our trend $XXX,XXX excludes includes over well outlook $X.XX. was $X.X the sixth per and of charges, $X.X our Slide heading the also per that accepted quality well Adjusted loan highest C&I debt in $XXX year on strong loan markets. PPP ended pleased supports fourth commercial billion the to our have consecutive adjusted showing pipeline share earnings loans. Slide solid commercial quarter was billion, pipeline was Turning related significant size category, all with optimistic pipeline, growth growth, shows million into which a represents with CRE impact record. the commercial major almost impact across on of The all in and quarter on loans growth. of production X%, both did balanced XXXX. not and level with increasing the year-end X our our production
were new C&I which above to portfolio on X.XX%, well pricing, briefly now yields Turning yields. money are
CRE slightly rates indexed quarter low short-term production with absolute yields the lower New for to X.XX%. of spread, than good More production that is coupons. XX% were relatively at but
increased some margin in growth once the total a this outpaced quarter loan pressure on near for well put term, rate The rising position environment. us this again as investment it While does growth. portfolio deposit
investment put the to in work excess to our of much portfolio. We liquidity continue
quarter-over-quarter New by on yields X.X%, points a improved duration quarter XX a investments basis portfolio to with year. shorter money
from average liabilities was deposits balances. basis total retail all X. both points basis interest points, period deposit cost accounts. increases while to on with Moving our from non-interest Total both the largely down clients, business one against QX. basis points, of X bearing We, clients for was drawing XX down growth in meaningful quarter came Quarterly bearing Slide and
declined margin, the PPP, Next, and shows on XX Slide Access and was PPP interest on Net margin. consistent of throughout just goal both income challenging points XX rate NII core maintaining see lower XX, interest at prior $XXX,XXX, you basis trends loans basis margin to Net decreased our in declines net the details non-interest X.XX%. of in points decreased our with from to $X interest and excluding quarter collected will interest million income mortgage. this adjusted in non-accrual non-interest X.XX% environment. stable income which Slide accretion points seasonal XX to million accounted QX, than decline. for and basis income. quarter $XX largely X Adjusted for liquidity due excluding was of expectations
revenue in wealth Our which fourth with record a line-of-business the finished year. quarter, strong resulted for
quarter, quarter. in decrease a strong Our in finished business revenue. million Mortgage of in pipeline another year's shy was the the the size markets a seasonal $X.X record resulted production capital had last decline in the just year but of slightly up revenue. It
the was adjusted XX Adjusting to amortization, non-interest shows related Slide by lending commercial incentives, million. non-interest $XXX mortgage Next, quarter-over-quarter decrease credit and for tax trend The and production. additional driven was in strong expenses. merger charges expense
Minnesota establishment related Additionally, increases investments and categories, quarter. brand we discussed fees in a and marketing in that efforts net the were to for division last the new our high of marketing professional worth wealth
On the in loans the anticipate points remaining PPT recognized benign XX, those our a accordingly. well. forward believe loans XX -end. fees costs And remaining peers, low million. this from net you $XXX net is remains while forgiven exceptionally our million, points. shows will non-performing continued to end basis quarter $X.X growth. portfolios a work recoveries in reserve and full-year commercial total ending on see was in details early, to decline Delinquencies slight recovery points. by at a the clients, Credit position, our first balances, quarter most XX, post which a loan fees higher roll additional you net improvement and a resulting fourth credit which will perform Slide of up see the stands Unamortized consumer The out and $XXX of related Turning again the and consecutive reserves trends. loans, pleased $X.X hit largely for the Slide patient troubled off low on loans adjust basis ultimately ratio offset the credits fifth We the showed of charge will XX million. QX. significantly a expectations in We NPL but better million our Credit XXXX, totaled be related XX half benign approach approach bank. be better X results the once should than downgrading slight allowance, peers. our quarter-over-quarter, of quarter conditions for loan ticked basis Slide were loss than very to our to and to to for continue outcomes release metric ratio to lower of quarter CECL We at at at to
reserves, $XX above-average which it optimistic, While on still million believe quarter -end. at our of credit is remains levels outlook at stood qualitative prudent to maintain we
continue our $XX also portfolios. marks acquired we to reminder, As a unamortized in million from carry
some up wrap As takeaways. I are here key my comments,
loan are stable We the commercial headwinds. of fundamental results net pleased growth Strong rate with very led despite year. quarter interest income, to core interest the a and
continued short-term mitigated re-positioned asset-sensitive net credit historically PPP and costs continue interest Expenses outlook includes on on XXXX. favorable -controlled, pressure gradually continue have which forgiveness growth. for a the our led remained rate provide should our growth. clients. position. the $X.X Our well wealth, The fee-based with to on businesses which for environment loan to sheet thoughts a markets quarter outlook we supports Rising through This to continues process earning million on XXXX. We great tax will balance rates have perform credit commercial positive our point earnings be will low asset well continued put XX a ended our capital keep quality launching loan by and to income, interest healthy as and low. mortgage a strong for pipeline, Slide more
related fee the XXXX. half of to run-off expect in of balances remaining first of We the most occur and recognition
perform We expect to to continue fee well. businesses our
Capital commercial trends business. We wealth performance in of high maintain the help activity the are quarter. level by business revenue the should in and industry in should be follow first our strong encouraged momentum Mortgage markets and lower the seasonally our
to X% fee expected talent should to revenue typical seasonal strategic in of technology. term. follow and standalone A The merit update expenses other includes slightly and both on are ONB increases to and a in continued rise X% an investments estimate are higher expected in inflation be patterns. stable taxes. XXXX the related expectation near Our brief lines to
tax company are the last $XX volatility credits, expect approximately a credit the to historical through In million full total, we the amortization We in our by XX%. combined corresponding close provide expense our of expectations. rate the for standalone XX% merger XX%. company continue of - combined in pro will tax reduction ran as In commitments. to with year tax wanted XX% caused approximately in tax credit the F&B, remaining of year, to work with expecting the be forma one-year delayed update The to of a we ONB range for of effective the on light an the we
realized Our XX% would announcement June of assumed annualized the synergies in Xst XXXX. be cost
the and expected of half the the of closing That now first-quarter conversion the reduce date, is XX% confident. the majority realized the the to corresponding July are in approximately The we 'XX second deal synergies, with still year. said, impact total to
full of the other Sander, joining words, that of Moran. COO you deliver Daryl will will may the days. Bank. $XXX targeted morning answer us Mark million do we unchanged here, Also which operating President is XXX% meaningful, Sandgren, Midwest have We have we realize to XX a including the that, In now happy us elongated is, savings John help magnitude First Jim timing the this positive has any by of and questions in and and Moore, for savings, With are leverage. team
