thank morning. for this Thank you all you, us Denny and joining
beginning of And income share $X.XX. X, which deck year-over-year I Adjusted my the the comments year quarter at first XXXX. provide built can will resulting net XXXX slide the seacoastbanking.com. over in earnings footing earnings we strong momentum grew on a Slide per to turning I with XX% be started reference in million As found $XX.X
for was deposit We sequential return performance NIM on highlighted Tangible deposit growth, the of continued growth. a ratio loan continued book a ratio We our ample loan sequentially value ended a XX.X% assets adjusted of all to across of common X.XX% and with per expansion reported by XX% equity. share $XX.XX. to and common equity grew Our X.X% and tangible XX.X% robust quarter pipelines. affording tangible on tangible return adjusted room improvements loan
that adjusted our to to the illustratively base first target a capital worth tangible common we asset mentioning tangible to of normalized As quarter’s grow equity it’s continue was ratio X%.
Total on Our deposits XX.X%. basis. XX% equity grew common return annualized an tangible be would on adjusted
the bearing Excluding bearing impact acquired million from $XXX sweep additional XX% during totaling interest deposits million. the Non-interest demand deposits and customer to $XX basis. balances on an quarter favorable annualized broker deposits transferred grew
augmenting growth bankers and business XX we bankers on track on to the we hired franchise support in vision in markets Lauderdale growing QX, focus distribution during Fort hired Finally, of objectives. Overall, remain reflect our quarter results we of our of fundamentals the the expanding in achieve fast Tampa. business our XXXX continued XX strong
points million sequentially basis Turning expanded net the X.XX%. margin income to X, up Slide net and now was interest to interest X $X.X
and the securities the the interest points from loans, cost points and basis points decreased Excluding basis loans XX basis yield of quarter XX the on on margin basis sequentially yield deposits XX X first was increased of up up basis XXXX. points, accretion was the X on net expanded acquired Quarter-over-quarter points.
outperforming was quarters four over our our back beta Looking the quartile, deposit top group. peer last
the positive interest support and on investment to loans remixing calls noted margin. between net continued securities prior As
to on replacing quarter lower points basis impact on funding cost benefited adding This in actions taken the this balances. resulting Additionally, deposits. rate advances reliance with from deposit interest the the of reduce to from cost core rate net despite action of funding margin overall a and benefited higher wholesale funding earnings X this positive
order We remain costs. funding to mix loan to disciplined overall continue pricing optimize We in higher driving on are will focused closely manage funding and in our returns.
X.XXX% average points pricing rates increased and in and in new year The prior over were continued Our investments and increases sequentially quarter. XX for add-on small funding from marketing accelerated X.XX% the credit, consumer first an add-on points and year. up from up to the basis in business in average with increase the prior prior pricing rate the basis quarter the add-on loans XX drive analytics to of in rate X.XX%
long origination business declined. by quarter prior basis commercial curve also of the yield banking points basis saw And rates X the to Our the declined X.XX%. increase XX yields add-on points mortgage from banking quarter-over-quarter new end as
margin remain increase margin. this the with spreads are we We to continuing focused balances our book most points forward to commercial to keenly variable, on than family we ability Going yielding approximately lower the the accretion support XX to points continue higher environment purchase mortgage with growing loan reducing to remix XXXX. balances. manage believe while replacing loan of to loan better second rate our And our to XX while basis basis be assets, one-to-four net in positioned in earning and portfolio, investment yielding we model accounting quarter interest
the rate X.XX% to funds steepness range of the ahead interest expect the to no of yield margin net the Looking no X%. curve, change XXXX quarter of assuming in and improvement we fed be second in to the a
the curve, margin within slight rates accretion the the conservative competitive interest assumed, basis uncertainty continued and in mix an deposit decline a point to maintain the of yield anticipated and yield guidance the Given changes persistent less of curve, potential or loan two is inverted our of a regarding result purchase position. base
was income quarter in prior X, and or Moving the X% line not-interest year. to from with $X.X Slide million grew adjusted the prior
Wealth-related quarter to resulted in XXXX growth greater increased QX we During fewer from declining AUM. equity compared interchange continued quarter, our resulted valuations, saw a continued by our when charge lower in the spend emphasis franchise volumes fee income to on ongoing income income moderated engaged but service by was benefit customer growing and and days customers. the
our million During We quarter-over-quarter million quarter in tracking under of XXXX, banking million assets $XXX fee Mortgage the growing XXXX. management. of $XX by AUM income ended management new assets the million, totaled $XXX under quarter $XXX to saleable in the first by to generating production. the with forward, increase encouraged result goal and saleable we product We maintain by significant expect of $X.X new to pipeline in when on and products trend. in positive looking to prior compared the million, a saleable focus a quarter, this introducing the increased
to Moving $X.X the and X, was million up up Slide million adjusted sequentially, $X.X year. prior non-interest from expense
on modestly key few a was was expense guidance and non-interest result the quarter above our last quarter’s this provided first call, items. of The
opportunity we saw XX to the bankers business First, hiring and Fort enhance accelerated we Lauderdale as Tampa. the talent, specifically in of
business, they quarter. higher resulting management risk in both in continued projects ongoing fees expedited scaling our and support operations, the we of professional the lending Second, in
costs. Impacting an and reminder, less under each cost commercial produced. of we direct production June. impact our as We schedule, half origination XXX-XX, to XXXX. estimated our origination ASC and we quarter-over-quarter benefits, And of salary direct per efficiency loan ahead accounting resulted to lower meaningfully deferral also a business plan launched generate and digital unit in platform of our This launch loan loan back loan in will guidance originate the defer small XXXX, in tool fulfillment end-to-end
we will cost the investment digital success growth on what on in or have objective in at second these into coming initiatives, Day periods, markets, commercial the reductions economic We of accelerate be three regardless expense key acquiring proactive discussed growth key the our bankers years. our calls the are completion small rate positioning the end business origination efficiency-driven brings. coming investment direct the environment interest and taking a Company and and All initiatives by reinvesting loan of of for complete of Building stance largely quarter prior end-to-end our will on in control, the Investor in in fulfillment. our
occur potential bank a this Additionally, disruption take from tier acquire selectively us opportunity two bankers to give flexibility of a the mergers larger last expected to announced quarters. few to of will result as advantage the top over the
of and focus employees. quarter will the on in full-time streamlining of operations a efficiency result During continued reduction XX second approximately equivalent our XXXX,
with incur will expense approximately While approximately annual more million in the this center closures combination banking severance including in other continuing of pre-tax expense reductions. charges two $XX $X.X Company million, in initiatives, will result
and back benefit a XXXX a and into quarter of end full We near XXXX the expect second the the beyond. of partial benefit impacting half and
assured be can that ability we contingent impede efficiency a our do company assuring in as great on by growth. drive focus diligent to care revenue on continued that not You our
we approximately expect second XXXX, which quarter. the $XX.X amortization assets, intangibles to million, per is the expense of of million to be approximately For $X.X adjusted quarter non-interest million excluding $XX
be intangibles, which of full-year full amortization $X.X excluding basis. non-interest expect the on XXXX, the adjusted $XXX year is expense For million a to we $XXX approximately million, to million
from our XX% expenses The up the Moving the track to Slide a seasonal was XX%, confident prior quarter-over-quarter efficiency as-expected result ratio quarter. out are in associated We below in of on remain FICA to our XXXX X, achieve XXX(k) adjusted and efficiency with we as XX% ratio laid Vision plan. of to increased increase expenses. our return
remain compared salable to small producing totaled in in X, prior rate Commercial and trend million than million, from prior loans declined cycle portfolio. $XX in in $X with the and this on $XX million the and the fourth Of deals long-term underwriting years to business million higher values Turning or Consumer We and $XXX fixed greater placing integrity. away loans focused patient covenants, not are loan new slower retained line we in navigated the CRE competing to construction was were selective was form as limited volume will transactions intentionally when total $XXX in originated carefully seasonally we million guarantees. production acquiring to QX, $XXX portion the we the like with quarter. million residential Slide production and in our all loan the defending quarter quarter. chase avoiding volume late
few matures the in quarter, our does to allowed land target as by But disciplined continued the construction that a high as quarter mid to be $XX credit we we a confident growth allowed to the as our a have result our ability be we by underwriting. competitors not may meet to in for offering transactions are From highly originating and during single-digit speculated of terms. cycle the Additionally of rate. decline our growth achieve inferior we time-to-time to year course refinanced development loans disciplined million construction over
Our million $XXX as of XX. April commercial pipeline is to growing
quarter. anticipating are We through to continue to this the improve
which a pipelines quarter, in strong have new with the We and Broward all of segments grew couple team in bankers County. across Tampa win
occupied focused our We We these and fee on persistent with our classes portfolio CRE generating additional remain opportunities. borrower on Lending on the are brings value gaining forward drive to attractive growth discipline. consumer well supports of and granularity higher share This loans positioned loan our in going customers. without wallet and lending. C&I to sustaining sacrificing greater credit from focus our based relationships funding related
XX, Slide increased $XXX million to outstandings Turning deposit sequentially.
deposits total XX% totaling grew grew million the deposits impact on XX% sweep bearing excluding Non-interest deposits demand and an the to $XX during $XXX acquired or quarter deposits noted, transferred favorable from annualized million. annualized. As bearing $XXX basis additional when customer interest million broker balance
Our X%. on we ahead March of of deposits on approximately targeting This reliance funded and XX experienced growing basis franchise value fully analytics increased and XX points outstandings no growth automation balance advances. customer sheet marketing the unique deposit customer in points. union is deposit underlying by paid Rates of XX strength of markets. the looking on demonstrates to basis bankers our wholesale the are with And urban
cost be the point XXXX. deposit in in mid-XX second basis the quarter to expect We of range
deposit Slide peer attractive to better XX, reflecting our deposit transactional of to Turning the our perform continues beta book. nature than
Looking points Non-interest our while bearing back prior current line cost deposit the demand of of funds XX% XX of accounts in cycle the our Fed transaction the basis book, increased has XX% XXX deposits rate to deposit only the the represented increased and points. has franchise of with quarter. basis deposits represented start
as benefit known points loan diversity coverage quarter-over-quarter. emphasizes total building selection and overall XX loans sectors builds customer Turning to as was from mix cycle Overall, through to relationships well maintaining and rigorous credit at Slide basis understood the and the well continues and basis of points up on XX, granularity. credit X orientation markets allowance to that quarter end to
a both the in At rate a the the you points in interest and loans including first the loans that to and this the income portfolio portfolio, quarter, outstanding. these mature. credit ended at as acquired acquisition characteristics loans back discount under mark applied take in acquired the quarter me ALLL pay-down In of prior of are moment an basis Let through as accounting with purchase represented quarter. placed remind loans loan X.X% line purchase net accretive of or the end XX loan of outstanding, purchase through non-acquired
X and percentage respectively percent of XXX%, We prudently in quarter to as Net estate construction estate capital XX% charge-offs. at by XX net on mange charge-offs And commercial annualized were $X million as exposure for commercial real matures the for points will from quarter the basis continue below our development of and real of the loans approximately continue provision of net be XXXX. a down with and XXX% and The prior loan losses basis a as loan or regulatory XX% average land cycle to influenced through and charge-offs capital forecast points loans. well economic growth guidance.
And over XXXX. equity And tangible would $XXX positioned imply growth for end, and asset well illustratively for and strategy. us are disciplined forward. opportunities tangible on common well at sustain additional advance Turning common in moving organic ratio capital Tier to common ratio and the ratio equity XX, returns balanced capital The deployment. normalized and XX, XXXX. momentum Slide capital XX.X% was XX% provides X total positions the in was long-term healthy possess our capital XXXX. generation providing to the XX.X%. The equity risk-based was ratio up we at through XX, growth balance for capital we Using tangible as to in sheet and target March Slide a capital manage available to growth delivering options X% This continue to quarter additional to are strong million wrap acquisitions
markets. your look strong our the remain some and continue continue to we to well very Our turn low-cost back track we a Denny. over in shareholders. we to opportunities funding XXXX and see capitalized, balance value on targets I’ll growth Vision in remain sheet, low-risk growing forward continue to to We fundamentals we’re our confident to Florida’s meet robust of and with for enhance will create call balanced strategy questions. Overall, fastest
