percentage and increase your to Good was growth earnings with quarter continue $XX.X with Directing tangible attention of Chuck. to million. Adjusted increased X% to assets Pretax quarter-over-quarter morning, as results, on everyone. you, Thank pretax beginning X.XX%. X. X% Slide highlights first $XX.X million pre-provision pre-provision a to earnings
the basis point cost XX% in of with supported yields and combination originations over purchase only points. a Loan in expanded accounting income accretion, expanded to interest deposits million. XX XX basis Net loan The $XXX increase
Net points disciplined an to delivered management, from basis X.XX%. declining adjusted fourth maintaining quarter was interest X We modestly, XX.X%. expense the margin efficiency only down ratio of
Our committed our maintaining capital balance be sheet. strong, position to very fortress and to we're continues
dilutive was of ratio at value, HTM our HTM TA And equity less ratio were common securities be to recent of TCE acquisitions, all total notable, of still the or Despite Also fair held tangible to would a X.X%. portfolio maturity strong XX% X.X%. the tangible than effect somewhat if to securities represents our assets presented securities.
disciplined lending. loan remain The acquisition standards in Professional. relationship credit largely growth and the Our on from balances came focused of
Our loan-to-deposit ratio ended the XX%. quarter at
criticized the low quarter, and XXX% assets. levels nonaccrual The borrowing and of Credit its charge-offs, borrowings with liquidity uncollateralized risk deposits. of increased boost and capacity total uninsured remained company loans to metrics strong during position is
and Along of $XXX achievements, initiatives, transaction portfolio closing a execute the on million million deposit million. continue Bank end of on The core intangibles including included our acquisition discount the with loan these million $XX January. to value goodwill, in $XXX $XXX total we Professional at strategic of in of
Operating impacted million of results Bank's were by one unfunded for $XX.X of day commitments on expected first provision current the on Professional losses the in quarter and loans credit $X million.
X.XX%, Net X. of in $XX.X million purchase income quarter, includes expanded interest during XX% million the with accounting balances. the higher interest higher benefit contracted modestly and increasing margin accretion. Slide to Net which loan $XX.X to yields Turning
loan XX back X.XX% quarters X.XX%. coming reflects to yields accrete repricing, points to the asset the current through increased the reminder, over points securities will taken one two In over accounting third income last approximately periods. through current quarters, dilution over we've two to market The the our but yields basis rates. were to yields last market basis acquisition expanded repositioning, rates a portfolio, repriced As this assets and of X earning
XX% cost well accounts, to We low-cost base the basis transaction strong remains a benefit from funding with continue deposits points below peers. and XX of
second the with ahead remain first to quarter, compared interest we Looking quarter. relatively flat expect net income the to
the margin term. market expect interest continue curve to an and the in We near conditions on pressure put net yield inverted to
year last million, an in $XX.X to the we the Adjusted increase Moving X. income provided million $X.X at and an quarter. of quarter $X.X million noninterest the previous prior was Slide guidance from quarter of from line increase with
sequential base increase deposit was days Wealth higher in off to fourth growing the from add was first X% coming seasonally generated charges, continue new as interchange management in high fewer income two flat, the X% by Our with the successfully relationships. revenue quarter. quarter we and service quarter a prior
included business to income in $X.X The other addition income. through in and increase results agency SBIC added loan an and swap first insurance of an fourth the quarter million income acquisition related quarter
And interchange of expect of to from Looking continue Amendment reminder, impact we the noninterest on effect in sources. ahead, with third revenue the a quarter as take range of million benefit growing in million. our will And income broad on franchise, base we quarter. revenue $XX $XX beginning the to the Durbin our second focus a the expanded
XXXX. to and Moving quarter quarter XX% the Slide of the Wealth fourth to X. revenues X% compared compared first increased to
Assets under of management increased last ago in X a a years. to the have have annual and year growth XX% $X.X rate billion at XX% from compound increased
prior X. aligned associate $XX.X with from to provided Moving million. Adjusted base for expense the were quarter noninterest at line Slide customer and the expanded Increases the was quarter base. we the growing quarter last guidance with in
basis be and the that note staff XXX(k) will increase due cost fully franchise taxes increased to and effect million, half in payroll the state-wide seasonal of acquisitions realized in second most the Seacoast's the of important $X.X and synergies three to recent an expanded Salaries higher benefits It's XXXX. reflecting from support contributions. also adjusted on to
occupancy-related volume. the customer Data Similarly, and footprint the with processing costs are increase are with bank's the during the quarter. larger volume-based, costs higher base in and typically transaction line increase in aligns the
core we year assets Amortizing increased approximately amortization expect during the the full $X.X deposit during XXXX million. Professional to addition assets of be and the quarter of Amortization with these was $XX million, Bank. quarter first intangible the
in excluding Looking ahead, second of to $XX expect $XX a quarter amortization to expenses, million adjusted discipline million. expense range maintain from with the we intangibles our
For modeling results, to expect million GAAP $X.X quarter. intangibles deposit the be amortization of core the we in second approximately
third $X step by expect the third cost synergies expenses in million quarter the quarter. we to effect, as beyond to million take to down $X Looking
on efficiency basis an was X. The Slide XX%. to Moving adjusted ratio
we As on efficiency. discipline, the our pace consistent by investments in and we evidenced continue leading Florida to become scale bank focus markets, company the our our with
expect XXXX, Looking low maintain amortization not in of intangibles. note, forward the this to full with the to the mid-XXs. does adjusted we efficiency ratio Of to include the year expense associated
Early Slide and of XX. I the the we Reserve as near Loan potential to outstandings rates higher third and recognize in discipline. the negative the XXXX, flat, rates as Turning on quarter impact demand actions in quantitative excluding Federal acquisition our by tightening. taken the both from credit impact economy were to strict market see we maintain we on continue
lending development commercial our we strategy, on lending conservative to and our guidelines began with tightened originate willingness real reduce land construction to investor underwriting estate. Consistent and
first sheet. This manage exposure and quarter growth net less production balance interest of the and lowering also us to rates to deposit building loan margin. such, on be in As raising inverted allowed better an the XXXX, slowed the our the curve liquidity aggressive in on rate
quarter. choice and in quantitative relatively will this coming for hikes believe result flat prudent tightening is the a rate We expectation the given and in loan further remaining outstandings
yields quarter accretion. of points during to which basis includes increased the XX loan points XX by basis Average X.XX%,
in be Professional the interest that Apollo, the recognized the on driven a will significant and in reminder, from As fair periods. net accretion result portfolios coming Drummond marks income value loan income in
of credit in terms mix, industry be types we critical vigilant Turning loan industries company's to Exposure disciplined, element collateral diversification culture. continue and XX. broadly in has across and a asset conservative the been strategy. lending distributed, Slide and Portfolio our type to maintaining of is
a we've of well to Of real see guidelines using upper can right remain estate estate slide, our taken interest In to note, and rates size below lending the real regulatory approach stressed levels. and always peer concentrations loans. construction the you commercial commercial below prudent that
Turning to Slide XX.
Non-owner-occupied loans XX% is and across estate industries portfolio types. collateral loans categories. are commercial distributed and across loan all real and of distributed diverse Our broadly represent
CRE, represent leasing C&I which XX% of the Importantly, owner-occupied business, related flows of or property, the is sale the the and of from total loans repaid through not the cash portfolio.
the markets looking growth strength local in and past particularly country dispersion balances led years market to in The portfolio Turning XX, with South population in show in the broad the in markets. continued economies and in the where Florida at state has our and few Slide population Florida business evident. the larger growth the been across to Orlando of have
On to an loan weighted of classified and size the XX%. as where million by some $X.X with largest real is office, the average and average million of a followed XX%. XX, average the is categories approximately weighted Slide loan-to-value is investor estate detail of portfolio. commercial $X.X segment The This size retail providing within loan on average loan-to-value
types collateral average and $X.X portfolio and the strategy, tenet investor on loan-to-value long-time average focus XX%. the our has For of weighted a valuable overall, size critical customer CRE been the average across of result the loan Diversification granularity are creating sizes on and relationships. commercial is the [ph] and million, low is our industries loan
The or very other shopping shopping to strong CRE retail segment This targets There's malls near units. is credit retail economy Florida big credit retail. credit plazas, single-credit by buildings, exposure anchored tenant and a small supported smaller strong or box is retail outparcels typically segment by no tenants. and grocery or very tenant anchored
have equity standards in our at them based loans These underwriting significant origination. on
carried only at financial XX We've was just rates. occupancy one over no in no There the services seen have due, million are that the $X which loans grocery, weakness tenants the and rental have of loans than industries. of and less loan care $XX health quarter. and sign or it on end in We past nonaccrual million,
office business office high-rise central no and districts. There CRE segment little towers to offices The Florida. targets suburban mid-rise to across are low exposure
over There loans million, no quarter. in care We nonaccrual have seen rental loans which or past other rates. services. or local health firm legal sign $XX no occupancy financial on of end due only services, professional at the X services, and the We've are of weakness are
quarter an one on was XX. overall X.XX%. on topics day in coverage to provision credit included during provision increase the an to the million, $XXX.X Slide Moving Professional $XX.X to with million in the million, allowance for loans. $XX.X increased which The The in on quarter Bank first credit losses
million allowance with to combined The total the $XXX.X loans that's unrecognized X.XX% available discount or totaled for potential of losses, losses. million $XXX cover remaining on credit loans acquired
the environment We of higher economic looking considering the remain credit our pressures to on credit the ongoing strong. economy, in inflation very metrics. remain at carefully impact broader XX, Slide Moving in watchful and though are of rates trends metrics
classified total averaged X.X% assets Charge-offs to percentage were of points X during the basis loans in and loans represent XX the was points annualized quarters. quarter X.XX%. Nonperforming X the have total and of last basis assets
higher In continue for might Bank. driven affect of environment performance. credit And the this the we Professional primarily in that addition X.XX% the factors losses loan the moved the by allowance, to quarter, assess of loans, allowance and total to
securities the by yield quarter Moving the X benefited yield to securities the approximately Slide unrealized basis of the average XX values, X.XX% to and increased points portfolio. changes the $XX in during the investment quarter on end curve position portfolio The the prior from and loss quarter. the reducing during million by overall
capital position, strong majority securities available-for-sale classified our classification the maturity. Given kept less as than of in we've with the our held XX% to
approach. represent XX of the in totaled XX% billion the our deposits accounts from of $X outstanding which Bank $XX.X overall Deposits and portfolio. includes Slide which deposits, long-standing the Transaction relationship-focused to deposit Turning highlights acquisition. Professional billion, addition
dynamic to the the increased The this changes the landscape. cost of competitive in with XX basis and points, industry deposits quarter
Our rates, though we with with certainty. outperform deposit will extent the expect continue the strength to to highlight that to environment base. is deposits cost to higher of as the difficult is of expectation the serves low-cost That of our to the impact increase continue predict said, peers
from bar the representing the higher total addition shows top with mix benefit overall than that of rate quarter. deposit XX, granular base a categories the Seacoast continues chart during the in the of less affected and depositors XX Slide diverse X% deposits. balances On to
account deposit an per average Business per customers XX% Our consumer only balances only account of deposits XXX,XXX. total with XX% franchise with of of to balance represent contributes an XX,XXX. average overall balance
a significant our nature highly granular provides and the their majority have having the had costs are XX or average noninterest-bearing peer-leading the an years. engaged we XX level of of base. maintaining deposit of franchise. in relationship This per deposit Customers with with Seacoast over relationship banking month. transactions XX% strength customers of have representing us reflects deposits, time of And more Our nearly
balances and headlines XX, Slide to accounts the March, and failure our with business of relationships about with during on customers. Despite banks long-standing three have the says notable focus quarter. Moving a something lot with industry of operating the the in think a stability the approach relationship-driven we of deposit our the the and demonstrated consumer and strong strength quarter, base we stability during a business franchise
the the approximately protection. the accounts that On $X.X significant if to cash Slide demonstrating limit, and balances identifies our FDIC totaled public The deposits insured Reserve. borrowing on XX, right capacity excluding billion, uncollateralized fund outflows. and potential be funds needed, which, above Uninsured capacity fully collateral-backed Seacoast Federal bar at have would funded by
Seacoast additional Beyond new use $X.X Federal and bank program. used the billion. not $X.X billion in above plan that, an Reserve's We've the funding to liquidity has nearly sources don't of term
on XX. Slide And finally,
maintaining Our balance capital and to be to fortress sheet. position strong, continues we're very committed our
two see of the tangible can somewhat the quarters in You the equity. dilutive effect last acquisitions on
we're time, will value While committed shareholder over to return creation. those measures driving
have if we bank. building high-quality and In materializes in franchise, providing industry, customer balance optionality the of strong a credit capital continue to our recession prudent community levels, summary, one Florida's strongest leading and sheets culture considering the
you. Chuck, I'll turn it over to
