X.XX% X core X.XX%. Directing Good morning, basis your attention beginning on to highlights to results, Chuck. everyone. points a basis expanded margin The points first with and to XX interest net quarter you, on basis, X. expanded Thank Slide
yields securities loan and the increase January. bank rates loan in addition early as the did of quarter, originations the new purchases securities the of supported during portfolios and With acquired higher in
balance the beneficial and flexibility the to level liquidity this high interest margin our fund positive impact material provides is growth will of add-on materially and interest coming of in Our the has rate recent sheet rates, steepening environment loan yield of rising had benefit all in the and The outlook curve periods. improved which securities asset-sensitive on at higher income. a for new net yields has
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second announced common shares on share. to increase cash the that and dividend quarter XX% Finally quarter, subsequent the week, end, last $X.XX will per to we in
With dividend we're the strategy to and continued and able peer-leading be deliver dividend success the capital of the revisit levels, payout to continue periodically. we'll to increase ratio our balanced growth pleased
Let's move on detail. the to some of
basis X.XX%. X. interest Turning X.XX% margin expanded X We points to from Overall, net to Slide
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deposit expect funding ahead, Looking and benefit to we asset-sensitive net from ample margin significant and will liquidity our increase higher rates. with interest as core income position
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from income with high from quarter was two revenue and was flat banking a meaningfully the quarter. $X mortgage Moving interchange demand, the or only continued off decrease the SBIC from core a a continue X. and Slide $XXX,XXX $XX.X of is add quarter. refinancing In And quarter investment million, which the periods. a Wealth $X.X And by absence income quarter. $XXX,XXX quarter noninterest on increase done year Adjusted vary gain first of relationships. this we management sequential banking new quarter growing X% fees in a service was The the fourth to mortgage, between base a sale days previous main as decrease despite the slowing housing low our driver and from fewer and were of of prior the a of generated of in in successfully decline significant mortgage higher deposit the prior money. from of as million team the fees fourth XX% seasonally job million, quarter, result, of tremendous the name. the to the and purchase refocusing million timing a In prior $X.X activities, decrease prior our income has inventory the coming amount from quarter website $XXX,XXX domain
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while Looking fully hires than growth. our as the expected first the Expenses ahead, the quarter second quarter. lower expense we of were maintain won't expect until planned discipline full for to in impact investing materialize
continued quarter-over-quarter amortization of quarter full overhead you of Slide from investments and overhead to impact of trend of can intangible typical in locations QX. expenses, acquisitions. bank excluding from to adjusted range $XX.X primarily million in the the in to the increase associated the seasonal additional second expect an $XX.X the see increase and two talent be with ratio opened assets of the efficiency result million. The On X, is We new QX
XXs. remain a the year, that XX% XXXX throughout and decline adjusted be below efficiency in the in We expect low in ratio ratio resulting to year the to quarter second the full will
out, ratio plays curve yield we could forward end XXXX. overhead of the the the high see into XXs Assuming towards the dip
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As over recruiting success commercial a of result, experienced in across and year. we've banking productivity the continued the improvement the franchise remainder material expect
a XX, to Turning last from Nonowner-occupied and acquisitions concentrations. the to diversity XX% quarter Construction at real two real you last quarter purchase to low guidelines from regulatory increased real loans. remains XX%, residential see exposure levels the below of lower increased average well XX% concentrations of offset Slide this size estate loan diversification $XXX,XXX. by and well estate pool. This remain commercial concentration and continued can and residential disciplined percentage XX% regulatory included quarter and managing guidance. a approach commercial our to estate commercial highlights below highlighting the Activity our PPP
XX. Turning to Slide
$XXX an acquisitions environment. a production well rate million of are quarter million and organic on basis. record for pipeline benefiting higher annualized in Beyond pool purchase, acquisitions The and increased and bodes the from next commercial loans nearly $XXX X% loan yields or loan
the digits for Looking growth to forward, rate the remainder growth of high in year. an the loan single with we continue annualized expect
pricing XXX over points up Additionally, rate we've the over reprice seen days. new market materially, loan the fixed last basis XX
the the better core curve of low we new expect and prepayments, to to expect the acquisitions. and slower Using to yields in increase core of impact yields continue with yields on XX, the to positive from expand XXXX. of rates April quarter We the by higher X.XXs portfolios to add-on coming the forward the as X.XXs the end translating to second
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with a X.X% additional additions rates. the new and We higher by continue duration end of average curve. cash in portfolio at future to average CMOs within of target our recent us the liquidity have with to moderate our $XXX second liquidity strategic securities were have rates. yields in net add-on of duration new averaged million purchases steepness $XXX in roll quarter, will short higher approximately a that down of and will meaningful the we remains Additions net pace far quarter flow and three portfolio and excess X.X% pace to April loan the the weighted so for X.X%, at yield invest the of and front curve The to the purchases deploy resulting steadily investments, impacted this agency million. of With expecting growth at an positively million to four in continue $XXX primarily allow investment production
strong deploy a We rising rates. with liquidity ample Turning into maintain to cash to Slide position XX.
cash was XX.X% the ratio the remains end combined securities at historical to the Our norm XX.X%, cash at assets quarter with while and of lower total XX%. and was equivalents the loan-to-deposit than
supports at Slide our deposit the second to compared XX.X% costs of the even deposit the different in XX% and that XX.X% lower XX, the rising of evolution in remain Turning cycle. from relationships the will and last the to last low that an rate cycle to and deposit to beta. third XXXX noninterest-bearing NIM, past, early That back transaction When ratio to quarter better and versus expectation long-standing to XXXX, in we position, of of illustrating transaction high increases start impactful XXXX have XX%. the is XX% translates loan-to-deposit low full we accounts cycle be than do Seacoast's favorable relatively In was compared beta. today a particularly mix. will hikes. prior mix exhibit a cycle, beta directly higher Seacoast the deposit deposit the proportion rate comparatively the quarter liquidity accounts with more historical Each but
expect we result, to a outperform industry. As we in the continue most would
banking Slide new $X.X from outstanding coming growth the economy XX% to commercial in share acquisitions, deposits Outside an relationships franchise, to the commercial grown represent of franchise. the generated by much expansion our increased Deposits have the growth of ability our XX. customer this year-over-year, a quarter accounts of from Transaction Turning that annualized, $X.X X% XX% of growing of or of and deposits our were demonstrating increase Florida with and billion, quarter-over-quarter. billion total marketplace. two bank XX% win strength the organic coming
Moving to Slide XX. The Wealth Management business continues to build new relationships.
better mobile tools are and the of than more revenues and The businesses. and deliver been with in highlight new digital family our a in We've banking to On capabilities. for years relationship-driven experience, position across high over years our relationships. platform servicing digital build will and to tablet number seamlessly a a and offering platform the and worth net digital better strengthens commercial have management leader under providing new upgraded returns doubled many model strong most for of The for new an and desktop, our Assets last This by two works team XX% generates quarter-over-quarter. clients a customers. user quarter features profitable further deepen platform building enabling better even team online over office up value a XXX continue our done to approach functions mobile, this banking sales and this we XX, delivery partnering has job long and and Slide run. our remarkable consumers
with aggregation include and features new reporting Zelle, summer. functionality the this tools opening account of launching new account Some
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The to Moving for was million on inflation lower rates Slide and losses with quarter provision strong the coverage. though carefully higher an balances We which slightly are million organic the initial to remain two remain improve. an credit establish economy, the XX. quarter considering acquired during million, in of the by increase overall The pressures partially and this acquisitions, of the increased allowance credit allowance includes metrics to loan offset banks. continue by to our million $X.X $XX.X and $X.X very impact on from watchful $X.X growth
In purchase which the million adjustment addition $XX.X the remaining is to acquisitions life will bank total earned the discount allowance, of as loans. an yield those over on be to
decrease We Slide with positive this charge-offs on will to sustained seeing total quarter loans to quarter. modest last and X.XX% We're positive sustained X.XX% continue decrease lower The conservative a trends to decreasing a On total allowance There's from criticized the risk-based moving metrics to loss to reflects approach credit to net capital percentage X, credit near to of trends nonperforming in coverage loans X.XX%. compared loans indicators. of provisioning. take in XX. loans to these
continue that factors this reserves this that appropriate. quarter performance the modest and in concluded We was to assess the loan might and decrease environment affect
Turning to XX. Slide
Tangible share. and was was Our total a acquisition. very risk-based balance recording value ratio peer solely tangible tangible value look finally, modestly was to per have in yet a AOCI, common last securities group. X.X%, XX, is book growth, Slide on and among through The decline of our increasing asset The impacted particularly growing balances, comprehensive capital on of capital the to highest sheet on Regulatory securities capital both Tier longer-term remains continues ratio ratios assets the decline capital XX.X%. the And strong. per X in impact book from share declined value of other impact also XX.X% by ratio share Without at the securities equity unrealized by in position tangible AOCI income, on result accumulated be increased the that's to the attributed losses quarter to tangible portfolio. would book $XX.XX. per the valuations $XX.XX,
five the compounded of we've rate driving a XX%, Over shareholder last years, creation. growth achieved annual value
base. growth our initiatives. deposits, commercial yield liquidity rising foundation a strategic and this positioned potential franchise. for net the and on economy turn driven material by commercial the growth favorable, and looking optimize you. expansion recent curve of All execute steepening have look The questions. will forward, back this I'll income in our remains growth will the impact Our light banking outlook of the loans your particularly forward opportunities of rates to we evidenced a in capital by on interest of strong Chuck, Florida call continue which is the to strong on low-cost and We from funding our of to positive
