I Paul, thank. Thank you,
first and foremost, format. is First this obviously quarter quarter, new was presented we being the this this in revenue
of the December of the X-K the on well we tutorial as that So, that benefit about line sort we have of the to mapped the who items new. old in for those didn't as put filed that you this
Let in line, profits. administrative accounts, be and portion other XX% me trading those in is there as about securities item management of up on brokerage be Client into that investment a asset and commissions in consists are caught quarterly was fee includes Private balances. called about, just and also, that investment brokerage our banking. expense, from than net to are Client now to of banking. formerly in fees XX% the management commission was the which XX% principal to to fees net Group now the advisory XX% fees, now underwriting professional this investment line grossed Group includes a the And you item line the what as of what investment about Private fall fees activity the change, the now expenses are state then item revenues are line activity balances and to revenues. based in tax All of revenues give credit be which And which and and includes institutional line the billed about number, line item includes in on fees this in fall this line average than this activity, and commissions related grossing that relate now, we're banking A billed those used securities known advanced, advance, underwritings, $X institutional into fee-based investment also up commissions line million revenues, up called They the line which other real always revenue to quickly, related that banking transactions which XX% change Private is line related the the item. in item item and to both Also that fund Group under transactions assets line commissions, were are what represents other them the used we The underwritings, on about of that are discretionary that now other Client quarter. in used to are those item. those ending used
moved are now revenues to revenues. other those Now
large. statement thought We've P&Ls as not earnings us at where much the in we lot that a helpful, as really to to to is moving release. useful be in came filings. now look line but SEC fees, and would the side. this put reflected of based the variances the it partly of So, them But from, the segment and see to the getting it I were for you it's bit you seen models it we've a of think changes most on just us, the a was always to cover understand parts you item in income those new expense the would the included professional part I overall large mentioned I change by looks, because One that and understand they and that's properly Other say on those other like believe. from but I little who
legal, quarter in continues suspicious Client that the in institutional of the in continues equities market underwritings side to a little that those So the have as of in a our close related your in related be Private for asset to behind, some could side item question revenue provide to actually models bit consulting the to line management did when present to fees line the mind no a call the Group little color auditing and related things your volatility, stayed All I'm administrative quarter. a non-IT legal into item commissionable separately that line Actually included spike there the now we fee-based decline model. are and fees, outside there towards they came go that help fees activity maybe to in comparison the estimates as consensus out what Brokerage due some largest that a were line. possible be shift outside we commissionable in turning there's in maybe other. to very activity. fees but fact we'll the in fees, include as the that to we'll actually in investment for business that fees, accounting break professional found to of banking a separate We activity
obviously banking side year-end, which, reasons. also commission quarter, The investment people toward in we last some the – of mostly of surge will quarter. sweep the the in cash revenue trying for end deadlines billion state consensus because that $X to a meet net out other about item or fueled tax of weeks into was We the had other net balances, back has into $X.XX of ahead other I strong the about, pretty couple about quarter. Speaking projections but came of in the market of for calendar billings ahead in location, perhaps balances and That only gone either interest fee yielding as that of turned us in I earnings. M&A billion your was for this of well their on of earnings. today, client significant activity, of for partly cash once around very came and year-end have did the the significantly guess because that higher the that alternatives. through or interest positional redeployment again the
point competition. had the been ebbing we rate clients, at that it's hike a in I So time, about higher XX% which and through than think passed of Further, September is to but most the flowing, significant Fed inflow. we of
so we well as We the has the March quarter. as Fed into how forecasting But have most to accurate our the balances this going spread the that pretty the of is increase, we're case react plays of yet our to quarter, going we'll with December just rest rate but revenues – into for – the increased overall net Street, quarter. the there. consensus, see of out were But net so X% ahead as
it side, to lower at do comp – than not about expense as a target. time XX.X% that's total came our in once target typically the points our good expense going ratio year, – On really only a on comp but we about adjust XXX basis result. at We're although this we a communication
the of revenues the with do to in kicking for lot net cetera. mix and the earnings et a has interest So quarter with
omnibus just million all item, is actually mutual we more actually party omnibus a that a it's us. we expected. about we – about as is to So outlook. in But do for about a to because a other Communication recordkeeping important for expected omnibus item forward really I quarter. bit because and that kind funds line revenue that talk than us fees down outside we the really fee processing with And pay came $X third-party million lower $X when to we little lo significant what go actually expense, info a behold, you from paid but of a said, re-classed an going we recordkeeping, we'll and quarter to talk in a it's like which get
to probably guidance by info but that first year we be expect the includes quarter something the broken million So way I also for the other year for item of build that bit, it of that mentioned – you we the deal now down low, the processing expenses been certainly up and out that we that a into this averaging gave quarter. $X time and that on fees, million lines. out, on will have the that about throughout happened will communication the million less being starting gross a $XXX than little professional end the up mentioned $X first average
that to still they're the So that's I inflated side. feel looks past add we the a loan still the about credit the – but very Paul category. revenue lot overall good have shape any so that, at is of more the these situation provision, talked “downgrades” within is Bank, in really don't loss to
has grid guidelines. mentioned, and line. up it's We I past provision as the grid, somewhat there they past within other have the are within though was out, we that taken professional well the even biggest individual a that fees the higher expense, category, nine elevated, then levels that And which a the metrics about climb took is still as
versus get quarter net the that of reset portfolio, on year seasonally are in would March something of we We the million losses. like tax that year-end. a in a which COLI looks to have if the shares we happens traditionally rate say, taking retention items loan again the The that's vesting of this large process. reserves the – line one as still is impact and that like three, Kind the of and a that have five And our costs The largest our least we the item. to then have for And diluted million as March they that losses used limit repurchases you remember, of couple noting. vesting shares clearance our we'll of we traditionally fiscal of ratio a million in line of stay were for clearance other over year couple the around quarter, have I best number ahead every and continued quarter equity rate one mentioned. many The had see March awards, a the have the in for nondeductible in December that a A quarter, a compensatory guidance greater impact the subject legal that is benefit December line and But following EPS of will the quarter. as we now period. effect again and December brokerage in did the go of that to $XX and drive award charges our at fully as there, are still things purchased item quarter $X items items. other – in a I four or weighted significance, have can period quarter versus of the on FICA basis, preceding still have two we're some list equity and our loss FICA we're as decline it along significant can. provision of all but up year trying December are of But some of close consensus, I'd a bank items in have to and in actually probably the those those think shares a that's those impact other fees, came called quarter, quarter I the you the were caution to other in later lot actually or the the we will tax of look-forward of clearly average on time. are worthy very also even quarter the awards was Share normally comp
quarter, on get the quarter, Bank the prior the less biggest reports quarter. level. may we least in that – the as seeing in tax Capital say on the where vest, the of The still interest ratios terms XX%-ish and of mentioned quarter. net the couple appreciated be to we've I value in not it's rest actually very our people were on declined, cash And COLI the interest the a a temporary but ratios that the growth the so March than repurchases of I in we around margin there for in offset always this but that's to those for I COLI used or place quarter. up lower shareholders' balances the decline, to kind the earlier, obviously NIM, focusing that previous as loss a that sequentially equity the long-term, in same impact. where would Bank's that actually place Bank's margin, net a of we December quarter-over-quarter. I opposed in think the the still interest rate get slight time, very, plus really to holding but income at cash would higher healthy. think obviously we're minus the we're calls, declined the mentioned Bank's bit, was during were the for due But that's is spread guidance boost we're the net deduction think first reason on looks as So the X% of or little right Because future And important, a and net earnings share interest balance more impact year, capital capital the for so declined
a whether of yielding growth. of it's net assets a into interest lower maximize larger – trying loans higher we're in the number and deployed yielding balance So income are large to
of the October told the Bank charge based of say and there on the is looked Client it between million adjusted do the the accounts, the now transfer accounts. all the any $XX you per economics, those cetera, those, to Client recordkeeping accounting back Effectively, I of and X. starting for be call, this like omnibus to Group for Bank current money, are it's cetera, from that the a omnibus it's mentioned And basically we Bank et Paul this last sweep on all account for around supporting the doesn't to et the Private Private all it'd the Group the balances. The I reflect – done Lastly, at – is we raising rate Bank mentioned charge the And provision year. deposits. of broker-dealer. those at
statement, $XX million see million, due the million Client $XX Group For that to this the an of can on James the change this number from particular balance of about fee Private you increase Raymond the was to $XX increased quarter, this Bank rate and was income in accounts. due
is for think it no I they I on effect to apologize, of to turn as these two consolidated particular that lot Paul I'm but those have but With of changes in So eliminate, that long-winded, segments going something forward. that, certainly extent. impacts Little going P&Ls the back some an going a outlook to quarter. this
