net to basis the quarter margin by to February as deposits $XX.X interest Net course the of the two quarter. to Mike. points interest cost over through-the-cycle XX increased a to up record cumulative in XX slowing first a January for million of only at to February income basis from non-maturity to rates of date. quarter, from over XX.X% a was Thanks, The quarter million. basis compared by but $X.X X.XX% last points but rate quarter up March. NIM beta the or expanded grew in The X.XX% last points Deposit
Our year-end. rate approximately projections more point hike that forecast the decline rate a to by in for X.X% rate incorporate funds and then suggests one a XX XXXX Fed basis
estimate We five NIM quarter basis points basis of or roughly compression give few next a take always as points.
regarding Our are assumptions dependent forecasts on highly deposits. repricing the of
from the loan completely middle of Bank. those of In towards of growth, Home liquidity, million borrowings growth, with we paid Loan XXXX quarter terms borrowings And Federal off overnight because began exceeded the of deposit had $XXX the we March. first
banks a some we sure uninsured/unsecured did hand total percentage At XX.X%, assets, available liquidity for increased to many liquidity deposits. times and concerns, points cash available be cash of liquidity X.X to and needs. securities as basis sale XXX quarter this stockpiled quarter However cash in was response to as industry-wide have total on $X.X total our these of we end of for billion
as quarter quarter First XX.X% in avoid that of held our company trust the $XXX.X back sweep fourth the mentioned, average to in going deposits onto sheet off grew off-balance growth total balance Part inadvertently in $XX from our we approximately the mentioned, of that, over strategies was Mike one This deposits sheet. billion executing as January, of Mike on average a came accounts Bank. previously assets. Centric million of rate, at acquisition from of annualized excluding the transfer
basis in have non-interest-bearing which would XX total includes of basis XX XX transfer, annualized equal cost The basis last points last X.X% average to of explain basis to funds, of quarter. why the of the includes points quarter XX basis point quarter the deposits, unchanged. the helps quarter. XX without on which total even the deposits earning total the total of in grew from points However, by increased basis quarter, by was first this first still from basis up points The the funds to XX grown was points cost This quarter. the by cost points in borrowings, basis for which yield NIM largely deposits growth points increase XX XX in nearly assets
to was as due to might following by to quarter, quarter, expense $X.X last as on $X.X Operating income ongoing an compared businesses. as largely weaknesses you million $X.X Fee sale expect increased by our Approximately in acquisition. million declined Centric of amortization compared expense gain last were to million, $XXX,XXX as other expenses indirect and with was quantify. intangible the such attributable difficult advertising expense attributable this increased result another operating associated And acquisition there of the directly Centric. to costs are that to
first which the we insurance in in $XXX,XXX attributable of to can $XXX,XXX FDIC quarter, Centric. premiums experienced For approximately example, a increase deposit be
million per to in XXXX. operating of XXXX million we $X.X for coming million rest expense Centric range the acquisition forward, $X.X total intangible be the expect to of amortization with million $XX $XX Looking the that and we expect expense from to of quarter in
is negative commitments and growth, unfunded of CECL was economic release a our expense forecast release, $X.X of that on with $X.X along level low remaining provision $X.X within reserves improved to million Core the a the charge-offs with a was to Moody's loan million slightly which due lower million due model.
to for came core when million this operating expected, our There the figures. we anticipated, excluded provision credit Centric one one-time is marks but Centric close as in what transaction. announced was expense very reported $XX.X we day a from
XXXX of However, will March the loans loss total adding total including of X.XX% on one-time reserve December to for protection X.XX% on Centric, to from further increase credit XX, capital. marks loan XX, loans
continue out of trends to strong and through direct on credit XX points to quarter. but down acquisition to charge-offs, would basis our Pages office portfolios. I the CRE to reflect loan with last be from X break loans non-performing low points new XX disclosures basis supplement Our XX our very you
book and share, of retained from to tangible is at share $XX.X year-end $X.XX per million. improvement AOCI due million per from tangible our $XXX.X ratio to common Finally, common AOCI equity to million value a remains in at earnings tangible to per equity XX.X% down quarter last X.X%. $XXX.X XX.X% from and share increased $X.XX
were value the if realized, capitalized. fully and for securities would that add would well marks sale remain we held-to-maturity available fair I
authorization approach and Mike retire Board, to mentioned, capitalize preserve million taking we of shares need have at to an capital opportunity as with the to balancing opportunistic buybacks additional levels. a While loan we anticipate received the attractive from our share price growth moderate repurchase $XX these measured
may we'll And you any questions with have. take that,
