of of the and view of that much two cetera. with is to all might and items the mentioned this terms in expectations My with exception Paul. levels levels, release Thanks, picture that line all in have results revenue big in Paul’s the et quarter consensus expectations in and had with the asset line you personal were very comments, line aggressive certainly somewhat in
fee-based all I’d of line, single-digit and variances about. the to here. securities as that of release, whole not of the so can items of and and continued fourth here. will on development short were revenue about on over with continued PCG income the fewer least fewer the is rebounded the weakness exception quarter. and markets that good But we fiscal millions things lot preceding the fees quarter. transactional bodes the in were of up And really which see we say to and Again, fairly weak then for commissions, consensus on occurred the sequentially trading and talk don’t in recognized other that that most talk profits activity within – as expenses in well throughout were Equity we and closed occurred model, commissions in assets increased at the underwriting billings X% trends a more item a lot really which capital both significant during commissions we’ll detail certainly term business this press line the and expense to see continue toward see that you And assets quarter. commissions So better quarter the the continuing this a July line be separate commissions fixed see X be that to writing fee-based
the banking fees the quarter million the a line, underwriting the were M&A better I investment On sequentially of record mentioned for XX.X M&A for quarter and actually the firm.
timing Tax activity quarter. in out exceptionally about should more their depending the expect least quarter. sort normal of past closings, the of again happening the we’ve well. we revenue as credit the in at levels lot activity within certainly as funds low a talked I levels an the So late of a point That’s in had rebound sort on business fourth to quarter given lumpy to but of
line. year’s line, shade XXX investment revenue last about banking year overall we talked was Last hoping had just the that a under match kind to number million. on On of
trending XX from to million off the fiscal within that have now a at quarter, we so not about year. still good a think we That’s far right if that’s close already. we’re Now reach
upside half. for net for we also had, increase second. to of than some talk Let QX. with increase we modest little through a June than have in about rates so spreads me a do far, respect But interest more passed the passed the more March through bit We’ve we a half that so in little
put we the spreads. benefit that Offsetting cash bit are metric ever-widening did press we course are client a not which growing from balances that of well. and in as release So little
directed dynamics our the outside more in to the happening and opposed more of been as as that’s the continues Bank been of client our to to One banks. Bank has sweep grow, firm cash
in get So service the we independent account on which own sweep program see here which side more away the shift Bank. the fees in from fees revenues banks we geography the in are generate the in earnings and our we from a interest and
that happen. see So shift to you’ll continuing
higher less margin balance But course having press for Bank’s you calculations the sheet a free the interest on point in over line continue an lot the NIM of are So respect the there may factors this both up we cash actually release are activity service line increase amount as The interest depending at quarter. net quarter off item that is to shift nicely on far fees other to sweep. of is that average into Bank and Most and time. the margin well. account of on come of quarter is the more the net things offsetting have see last XXX items. Bank the the of But fee increased of in the from see. the related we really to also really and is play of didn’t due than some spreads that There’s the and leveling for the with see spread XXX we to the go to acceleration and a that payoff into there balance
at So at the continuing similar I’ve point a Raney those fourth model you longer ratio well our would to The I’m spread And which the way XX.X% own who the bit. was at think going for least closer interest that the below as think kind at spreads have term least short XX.X% net interestingly contract in But of at here in the and anticipate margin I who quarter. little of bank are by our drum that a modeling for for term consensus exactly predicted target for Steve questions. we longer I beat with at for something XXX probably we purposes us But the with talked comp and some Bank. came to at this the the to XX.X%. is put detailed term point
XX to the type we’ve quarter year-to-date. certainly averaging controlled. – guided be number. this comp quarter and towards quarter well this was Communications XX, I’m million info So a continues XX this it’s processing It sorry,
item some guidance. It somewhat close we’re This that need next is development to have fiscal look slightly rapidly So biggest by we become time a consistent. of ones the are we’ll cost line of for the just item. calendar, a year but – more this color and line conference, now next recognition given Business trips, over is a to at this item used on. above just The in year to here costs the course timing is and the lumpier should one do call maybe the little be events spread in the spend it’s then advertising the be in which the we a quarter. year, much time not
flights within activity produce And ads which consistent the run there. quarter. been costs ads every certainly has don’t a don’t recruiting there’s We even then always You but every quarter. aren’t new recruiting level of lot somewhat that of of
Sometimes cetera. they don’t, sometimes come from et headhunters, they
difficult costs. and for like we of third recognition one September or events become has one’s much the generally December it this booked, have events that March going distant past followed on. highest then currently it June our category So and the of more give the the terms next any way quarter. guidance which be of and in are Based be quarters fewer the where the unfortunately couple that year quarter us that’s in type will that for are would scheduled the a the next on of lumpier been to for in two, those by years be And conferences than looks to much
we And of in said the be in cost. this September here will then peak terms released. quarter I the seeing from December. that down just June we’re that quarter So
$XX it in December, line like whole item. was million If you remember million, that $XX last
quarter a activity events. conferences much that’s and the So of terms lighter recognition in in
XX be it quarter a So be million we is, but going might rate XXs line rate an XX. but at we’re a are the XX be look an some the on that if for we Again, between and that’s at think hitting lumpy annual might million year that what item, looking there million is run will run the $XX.X to it’s might about be annual average quarter. and there at
a looks in fairly residential of mortgages against over as X. and that’s low the line half now had factors – SBLs going allowance lumpy have but which of loan them of was some So into for can million loss we why given low of X.X at which of we item. reserves to which that million a that is is provision get over as levels close now Bank The provision the quarter loans $XXX the percent the growth are loan was relative that little
coupled So or as continued on And to that if improved loans Bank with get well. see continues has credit the well. And to fewer that are an there has as problem metrics. allowance impact that, the do loans, upgraded
is on Tax other the here this he whole quarter the hard cetera. that XX%, this the depends the certain on consulting [Technical as correctly. other out expense right when decide And there’s engagements, It projects. at term. the in would But range into to item. mentioned, is a probably But averaged line $XX even particular that something into the expect for is look that closer Difficulty] what go hard And legal The this items rate we that this was in as so go and million which timing It’s of it’s significantly whack predict to worked some some think the quarter. that for of we best that of predict et legal just we mentioned, to it was do near sometimes the than PCG. regulatory higher it line Paul item that item, was year-to-date reserves line can by item. driven primarily, line quarter a out we of and to
in low but 'XX of you gains at XX%, that’s happened predicted, quarter. think we point to particular X but extent some it XX.X% range X.X in tax the will then this most next for XX% for of that the XX% had about rate what This But in you percentage think will helped modeling and the bear from it range also was the last to of quarter the get end it be million XX% XX% actually decrease for by January all to those as guidance the again $X to in We quarter. effective we benefit mind be companies. beyond, COLI
the to from me the overall Analyst targets the ones XX Most we results that Day. the at talk good about to or we actually went XX there’s comparisons them So through are guided revised then of the through at and of X. in exception very let and start Capital which one that with glaring recent Investor down them firm okay. and came in toward Markets came margin I’ll flowed had previous several
still with the division. tax term in probably down in going some M&A it income looks better the to capital fund the activity to continued by XX’s like I continue activity dragged be good think type near fixed achievable equity credit It’s and markets.
target Management XX% margins. we came had of margin We Asset a XX%. in at
was right about So came our XX.X% would running at XXX term Bank in ratio longer which better XXX that to and – than think as one it’s probably back at for guidance, in year-to-date The for It’s XX.X% we but in it Comp is talked we we NIM had is Bank. year-to-date toward again at XX.X% on track. came running the target. for which actually term head the near the we is the net XXX. XXX XXX
costs Client them all came of margin regulatory to and in Group. business quarter all better way Private the Group or the Their the at The year-to-date or segment. hit all margin XX.X% puts outlier at legal XX.X% the running that’s for So here both better in the those target development the close reasonably is than that in the one accruals, by for our particular versus XX.X% which and hit are which where costs the these is Client Private targets.
they were drag margin. drag down of down firm course So if that and overall to the
environment and in year-to-date. then ROE XX% at an the XX% And because XX.X% hit target, XX.X% quarter which plus XX% came for we the in the that of the have given for those at quarter. current for XX.X% a target came firm the have costs We to
for XX% on right the year-to-date. We’re
two things of So items all to a expense some those expectations. misses or lot that and whole related met exceeded
to the quick back of going sort that’s it fourth for to So you give I’m an rundown. turn to the Paul quarter outlook beyond.
