Archie, income of overview or included $XX.X our you, quarter second $X.XX morning, million everyone. performance net and which an share. Thank of provides X per Slide good diluted common
As our was efficiency results in quarter Claude credit as significant quarterly the believe we’ve company. On highlighted items we quality. Slide of reconciliation quarter addition combined X, performance. The to first earnings, quarter extremely understanding expansion our highlighting and second improved that a to are adjusted and we pleased by mentioned, margin with our provided GAAP earnings stable are a earnings Archie strong to and
closing second you and the of As in bit of beginning of contained the the a quarter the merger conversion the period might with the system noise. expect mid-quarter,
share was from income $X.XX of net the a to of efficiency of with expense diligent the synergies equity on per common assets XX.X% as merger Further, tangible on management. reflects and second cost million quarter Slide on or items, return the adjusted X.X% our ratio realized merger-related Excluding for X. shown $XX.X quarter for XX.X% return which equates MainSource and
dilution the quarter driven the points for higher and fees driven investment rising linked XX quarter rates the by primarily loan our X. basis. acquiring MainSource in basis X.XX% of by shifts second equivalent funding Turning funding costs tax increase Slide well as on to from to in which purchase interest interest accounting restructuring increased higher were The as balance yields increased rates from the margin a to initial interest was margin portfolio. the margin a impact in These asset more from than sheet. Net and resulting net addition the factors earning and mix offset from
combined period declined loan loan lower the our average and X deposit were post of end and from on shown while of on first depicts merger. the unchanged progression a X, Slide Purchasing deposit relatively cost deposits. higher to Slide in MainSource deposit accounting due resulted overall As yields basis quarter. mix costs loan
divestiture quarter compared part were when for loan first and As shown the the balances accelerated. declined than branch expected originations left-hand on modestly activity, of slide adjusted merger to as and lower the prepayments
average outlook loan discuss later. growth targeted activity, and divestiture details balances X deposit amounts. Overall, both income Slide the and and expenses. expense increased our levels to balances. our income will side, CD approximated On brokered branch due for our merger non-interest non-interest higher again Archie excluding
in line non-interest included income streams mix with expense over the $XXX.X the income million related subject Total certain quarter million expected was remainder Second of changes of to although the non-interest and in are seasonal year expectations as $XX largely variance. to merger.
synergies quality are companies asset to the and We two excellent. for continue opportunities committed identify XX, legacy maximizing Slide between future On to overall efficiency. remains we’ll
credit assets. balances loans asset Asset XX slightly classified flat to percentage nonperforming norms compared declined declined basis portfolio. of but points activity, reserve charge-offs increased expense stable and of or Provision merger charge-offs balance. net and ag to historical resulting accounting requirements. a percentage by to as in a single in percent allowance approximated of a driven relatively purchase low predictably remained due The Net the a as a loans as were primarily loan loss increased
wired million was of quarter. associated with loans mark credit at there of approximately end However, $XX the the
with the ratios now to that Finally, as targets rest our over all note following year. of of with XX, merger remained on turn to respect Archie some excess the further capital in stated Slide it expansion the for shown ratios quarter. I’ll on outlook comments back for the on I’ll expected
