Ron, Thanks, morning, good everyone. and
net with starting So interest income.
up for to XX% half XXXX expected, of the of interest by margin offset The totaled decline year the our the and basis interest in during interest results million, increase of the basis assets rates margin interest increase lower firm sequential XXX impact as funding continued cost which offset in remixing $XXX As of in modest basis increase X The point and net second to with income bank interest-earning assets. average was to lower in more than quarter. points a line were XXX was a sequential the second midpoint a point points over X quarter. in as due basis wide guidance was net flat with margin net the net
which on more into sheet the want we get the in note I'll is for strategy our additional of While later the balance to the composition I limit returns. at opportunity year remix of believe that our we in this to with detail the opportunities changes slides, balance on sheet and generate the to liabilities, beginning consistent best out assets will laid focus and growth risk-adjusted our
sheet. decreased our sequentially offset billion. billion, due more by $XXX to reduction interest-earning Moving onto were assets securities $XXX portfolio nearly Total in consolidated was $XX.X roughly which our $XX.X average portfolio. $XXX that million million the a to in million were assets than balance down increase loan partially sequentially Total
Fed and yield by cut was on by average the points lower July loan the on negatively decreased the Average basis liabilities The yield LIBOR beta of portfolio investment our due as points, deposit cut decreased basis XX%. decreased roughly rate as funds sequentially, by by to portfolio in XX XX impacted our impact basis a were rates. points our on both yields XX
continued our strategy optimization by CDs Additionally, deposits. replacing liability we sweep higher-yielding with lower-yielding
$XX.XX XX.X%. value continued repurchase ratio earnings repurchase the share three Book performance partially our X share result factors of by strong and program, and we Tier capital While a ratio those per aforementioned strong a acquisitions X of essentially $X.XX in ratios, with and risk-based flat activity. offset by of the acquisitions, growth XX% as increased and offset of earnings Tier closed resulted capital a leverage
sales to the of a $X.X decline billion loans. assets assets In million. in securities-based by terms mortgage the to Stifel reduction due portfolio, approximately bank which year-on-year growth in Bancorp, XX% reinvestment and investment into of bond C&I, billion, The Total amortization was outpaced which was in roughly were $XX.X loans loans. from increased higher-yielding total of driven $XXX cash selective
billion at client billion, client earnings Total last $X.X slightly on by client had sequentially. July. increased end cash stated to which asset-backed that investments of which decreased of by the of $XX.X end from declines mortgage-backed a Cash was due X.X% Total securities. totaled levels is cash We $XX.X in $XX call XX% roughly last our assets to billion up year-on-year billion up quarter. the and was to as percentage
trend that the continued So during quarter. of the remainder
$X that not I billion does money the clients in roughly to our billion also include hold want $XX.X market note accounts. that
bank new Overall, cash FA initiatives client adding some declined, to our our continue could that's movement as deposit as well levels back from As funds see benefit program. rates client cash sweep gathering recruiting Stifel from at of we into levels those Bank. strong to
Our just lower loan mortgage by and million under driven million loss approximately loans. was expense by loan and growth declined $X sequentially $X.X provision risk was securities-based for as
decreased XX Overall, on of down The sequential a as solid OREO which percentage basis points. as basis was non-performing basis sale was XX loan remained our ratio due loss allowance metrics asset points, the property. of modestly loans to a an credit to for the
asset see favorably We overall metrics to that the strong to compare market. continue quality
was Moving XX in came in was a XX% of on midpoint quarter. the pre-tax XX%. our basis quarter. slide. which point This comp that targeted at by increase is a ratio up our to of decrease at improvement prior the range XX.X% of next to offset sequential partially was ratio, generated result non-comp a XX.X% margin The the comp our essentially from third a that modestly full-year the in in of slight We
quarter our modestly that some as well to charges activity, ratio number interest And factors, the investments the quarter including increased from of took business income, the we flat a as other comp net recruiting due impact prior our increased of revenues. in impacted in
ratio at impact of of XX% strong comp financial the For recruiting business. our the anticipate approximately given as fourth rates, continued in quarter, well we advisors lower interest the investments as
banking Non-GAAP and a provision travel, operating excluding related sequential $XXX investment within professional expenses, were increase of expenses legal and the loss and approximately million totaled transactions, our was guidance loan range. The higher fees. to result
cost revenues investments given focused well discipline, as between quarter seasonal our million fourth our million. them, with with While on revenues, in come $XXX $XXX to remain development targeted recent expenses and as associated timing associated in the costs expect we non-comp business operating the of and higher we'd higher
share third overall shares fourth a the our and fully shares. already price diluted the repurchased terms down our of quarter. approximately share In we've roughly average XXX,XXX activity lower of during quarter, result was the share XXX,XXX count repurchase our In share as sequentially count,
Assuming constant share share approximately a price, share we be expect repurchases average million. $XX.X fully our and to diluted further no count
management the rate in Management revenue Global in increase our we as roughly With negative outlook, would Wealth fee-based also quarter which outpaced respect in will the from to assets of sweeps, X% cash our XXX. asset our expected during segment, some benefit quarter, note on capture third-party would our impact to related I a rate X% S&P increase fourth result cut. that expect the revenue the third
and basis guidance a are quarter's funding last points. CDs we fourth expect X basis higher-cost increase point bank decline interest-earning of assets our wholesale is terms were we'd NIM XXX quarter deposits. third lower other to to to XXX to funding from costs quarter This levels. our as sweep modestly guidance, primarily due increasing bank, versus with And In we to able replace average
expected rate re-pricing Additionally, These should offset impact our we the factors fourth more of of timing will the our from the on benefit results. than assets. of the cut quarter
would higher-yielding still with note we I in advances given transition roughly assets will deposit significantly to anticipate this still half guidance, cut earnings that $XXX the lower funding, would rate and of that result we is fourth deposit net on and line be our our $X beta in gave year yields, quarter Based interest income on while million further second guidance lower-cost XX%, and we'd cuts decline are that the also today's deposit any balance the on of offset in sheet betas. around expected $XXX billion call. in million, to the in which on of a absolute expect, into able rate CDs range FHLB be we'd to last for the with
onto institutional our Moving business.
impact volatility In banking, to well markets timing we concerns in and as dispute lead the be trade revenue terms robust the deal that the U.S. than fourth the China, as could our quarter. ongoing and revenue third uncertainty, political to of and That closures. more between investment pipelines remain could in higher quarter of anticipate said, the
our to usual seasonal in the expect higher up business, we to brokerage sequentially the For quarter. fourth see slightly institutional pick due revenue
back me let Ron. turn now, And the to call
