primarily from of Management, with increased million, XXXX. quarterly was up as Thanks, posted in $XXX insurance continued and to revenue mutual Starting Global good we X% Ron, and revenues revenue net X%, fund due well Brokerage strength as higher recruiting. morning, everyone. Wealth which
expected were management was fee-based quarter revenues of due impact asset which our Our assets to improvement. first year-on-year, the for the X% up market
with and well second both of pre-tax margin the generated We segment a net XX% from associated XXXX. improved quarter as the of Additionally, slower margins. XX.X% for as recruiting the interest-earning costs our impacted net interest interest margin bank as producing advisers growth income increased assets higher year-on-year, as
income a in equity was revenue. that our In year-on-year. X% decline both business, fixed businesses The which of than we was double-digit revenue, and in million offset $XXX by net in terms advisory driven institutional increases growth more generated up our modest
of quarter, weakness, brokerage quarter's increased Equity $XX very million guidance due million. back were flattish had revenues a to of totaled underwriting the equity sequentially, last revenue our $XXX Our million shutdown. $XX we the for following Equity government as XXX% with in quarter. and consistent got strong bounce business the
market in XX% Our brokerage $XX $XX of benefited fixed investments year-on-year, underwriting rose million million, year-on-year, as revenue income and XX.X% as improved we've income ratio. XXX-basis-point was than comp XX% generated our more offset and XX% business increased points up increased in from our which volumes. of revenue made increase fixed margins revenue generated business a ratio, the segment, improved points, basis XX.X% as basis we to pre-tax $XX well non-comp revenue, while in million as XXXX XXX was as XX for which We from down
assets to to levels. our $XX.X yields Total were our yield CDs payments by declines sequentially, interest-earning levels. cash the consolidated yield in offset investment rates sequentially our due The lower increased increased decreased the $XX.X due basis six loans, tax basis points increased Moving an that as by quarter with associated of Average portfolio increases to on on our to points million quarter, assets average C&I billion. points a during billion, on which first quarter. of LIBOR decline to loan client the used liabilities from were cash while in were average basis $XXX balance due sequentially Total six the by down sheet. increase portfolio roughly during XX to result
the X of a ratio finished XX%. risk-based We and XX%, a Tier with quarter capital Tier ratio of X leverage
Tier growth Our of a in growth assets. average increased as earnings and X leverage limited ratio result in retained
of by increased declined at basis risk-based capital ratio XX the an XXX% which risk-based Our end resulted brokerage Tier client in additional X activity in increase due a to as the assets. result of points risk-weighted quarter, assets
as result offset share of by in strong the by repurchase quarter of Book a share partially earnings value increased per activity. $X.XX $XX.XX growth,
a assets of into million of in reinvest $XXX terms to billion, $XX.X $XXX Stifel assets due approximately partially million. as to reduction In decrease investments of strategy loans, offset flow portfolio higher Bancorp, we our in increase investment continue was implement yielding cash by loans. from to was total a decline our in roughly were using $XXX million that The
Total billion decline year-on-year to decreased Total billion, C&I mortgage increased XX% to by investments mortgage-backed growth in bank in asset-backed and $X.X XX% driven year-on-year $X.X approximately which securities. loans to due and was loans.
the a totaled assets versus client Cash of X.X% in quarter. percentage prior X% as
the While to April continue investors quarter was as cash cash, that withdrawals impacted year, we'd XX. second higher-yielding prior negatively nearly by to seek tax season note for full also XX occurred alternatives the days for the net in the the of XX%
client quarter, that strong the the recruiting we've add we and pipeline continue to of cash believe cash the end begun increase, levels. levels see will Since FA to to
traction gain other at expected such by our as Additionally, Stifel relationships Bank deposit direct deposit direct and are to new initiatives, capabilities year-end. gathering treasury
with provision The Our at loss was points. relatively $X.X for allowance XXX loan remained the Overall, which quarter. loans loss for was a prior as metrics million, loan basis expense percentage credit compare solid approach conservative of remained points. credit. was the quality asset favorably as the ratio metrics XX reflects very our non-performing asset market basis overall to The and our to flat
to our expenses. slide, Moving next the on we review
quarter. full ratio quarter, comp our and at XX% came related second loss approximately reiterating of high were and the excluding transactions range year Our totaled to end Non-GAAP expenses comp of $XXX to range at in and banking XX%. the loan for investment targeted expenses, the we provision operating are guidance XX.X% a in million the
a increase travel, was of result higher fees. Sequential professional and legal
non-comp remain associated come to further our $XXX focused costs, in targeted as third timing we recent revenues quarter discipline, investments we well our and on to with $XXX million. business While in development the them, of cost the as expect expenses operating given between million
was second activity In the a share result of offset diluted as overall the terms our count shares our the quarter. of issuance fully of share equity-based average roughly compensation down the and repurchase sequentially higher price count, during XXX,XXX share impact of that share
have XX.X fully quarter, share count share we be that already million the excludes any This third for repurchases. the shares. which In includes to during repurchases expect assumption approximately diluted XQ, our further occurred average
revenue our Management nearly asset XXX In end in of trailing vast the asset X% our Global majority Next fee-based S&P we quarter our increase touch benefit will levels. revenue as the on from a outlook. the segment, quarter second during third are Wealth on quarter, priced management assets will our
the net remain to XXX between of and second in quarter expect terms basis average similar interest-earning margin at quarter to our we’d levels those be and interest points. to bank, bank XXX bank In our assets third
NIM the and in quarter XX expected cut on rates. of based is the guidance basis-point rate Our impact last the funds LIBOR Fed lower versus current
I'd calculation of deposit assumes XX%. beta also that a net note our interest
to out rate two of Looking cuts. the interest $XXX estimate back we million net $XXX the of million, year, income impact to incorporates of firm-wide the half which
that of the institutional in Moving versus half, larger note business clients, investment lumpier. increase see revenue product more business, typically weighted. also the the to our half first banking our an seeing become from year each is revenues to we've business on back-half the to grown fee opportunities we as has second this banking relevant in of our slightly as which and make I'd lines, can Investment more expect we're
business, brokers historically, fixed has equity institutional seasonal quiet. been our institutional slowdown on both levels revenue during activity the for to For income see months, we trading and desks as expect a several
me now the turn Ron. let call back to And
