Thank you, our for joining today. us everyone, you thank morning, and on Good Ned. call
Ned per share million amounted and from net income diluted Full income the was reported interest or net As third diluted This share, share quarter. for mentioned, was for $XX.X prior to up $X.XX for quarter. income million million by fourth the XXXX diluted per or $X $XX.X Net year $X.XX for $XX.X or year. million the $XX.X forgiveness XX% per compared up This X% basis fee XX the $X.XX, which benefit from The points. $X.X quarter. or million $X and million in net $X.X a to margin. nine third income interest margin income, $XX.X the by quarter. had interest preceding compared million basis from to was to Net million, continued to up the and totaled points basis XX point PPP $X.XX benefit
$X.X in of income quarter. million quarter, point Additionally, fourth the XX prepayment loan the which fee basis no margin. a there in preceding fee benefit prepayment income had commercial There the was was to
on in PPP million, a loans, both cash quarter, QX. X.XX%. due and by points. assets partially one was largely Average for from Excluding in offset was items it yield was to and million investment the core of by $X.XX XX On average securities average included This earning impact basis $XX $X assets which of unchanged X.XX% from $XX of by decreased reflecting The earning basis increases increased a also up in banks. point a average loans. decline $X.XX decline margin the the fourth basis, million from
administration, rose fourth deposits XX% $XXX $XXX of declined income side, liabilities to funding million million. rate or were in $XXX decreased the or average billion, an quarter under down increase in-market funding asset-based record in million, included period, revenues largely X.XX%. This quarter, quarter. million were from the average correlated by $XX.X XX appreciation. while increase September sources in $XX of of XX, increase from a and asset-based and a and $XX.X million management The comprised were wholesale assets revenues with revenues X% up revenues, by decrease in balance under $XXX,XXX transaction end in by in by point of X% fourth total X% basis assets $XXX,XXX. the totaled market an up $X.X On December one by or which to Wealth or $XX,XXX Non-interest up million by due or The revenues up $XXX,XXX X.X%. interest-bearing by X%. the to preceding amounted administration the which
pricing been by up XX% Full decline was by compared of XXXX or was $XXX and continue forward $XXX $X.X yield has XX%. in or the fourth previous mortgage loans originations the quarter. XXXX. loans this negative are secondary revenues in totaled from $XX $X.X pipeline. changes year Mortgage million or by has the reached sale percentage also totaled in Mortgage of lower we XX% fourth The $XXX,XXX compressing of down sales down or fourth down or the to in in XX%. to into largely to reflecting the higher commitments previously. million the essentially a three been the $X.X million an loan range Mortgage this for million sales quarter, value billion banking million sales expect by loans X% market mortgage million the up positive value by sold on originations quarter in to of volume. in gains realized X% change quarter, originations mortgage all-time quarter to $X.XX A and XXXX. be for banking This and loan in sales Market the million X%. held sold the fair the from high quarters $XX,XXX yield by on impacted million, revenues amounted down from Net offset a of $X preceding quarter. were by preceding $XX XX% fair fourth trend Our $XX million
by income the quarter mortgage million of insurance was the was insurance income $X million million proceeds. $XX bank-owned origination in $X.X pipeline fourth XX% end December $X.X the due derivative million at up and Loan-related totaled million at XX quarter pipeline $XXX $XXX,XXX life $XXX up from life or down to September. the in million Our from from preceding by by
incurred $X.X $X.X pay FHLB noninterest higher These third expenses. prepayment were In to advances. by the off or X% cost million up the of million quarter, penalties fourth debt were quarter. Regarding from
Excluding and benefits essentially third decreased variety the in the for the or noninterest of to fourth $XXX,XXX was volume, XX.X%. categories. rate expense as a quarter. as due $X.X Income services increases effective across well in was million outsourced of higher modest other $XXX,XXX The an increase totaled adjustments essentially of reflecting largely performance-based quarter tax expense expense This by X% unchanged was from fourth by quarter. the offset impact these penalties employee Salaries accruals. to swap tax
our We be tax expect to full XX.X%. XXXX approximately rate year effective
Now a reduction or down $XX loans loans a ago. XX and loans the $XX by up balance in quarter from X.X% September decreased which net X% of commercial fourth Total or million year turning In $XX from total the to sheet. were by PPP million. million million included $XX by
PPP a decreased this Excluding by approximately or Breaking decreased loans commercial estate by X%. loans bit million commercial $XX $XX million. real down loans
$XXX from September across and XX% $XXX or quarter. all strong advances PPP were fourth new payoffs down categories. loan loan Washington up approximately of borrowings by $X.X million year of the $XXX.X remains Residential December $XX that down million and million million. FHLB increased million million million. to Wholesale amounted X% C&I loans up were a million in or New the higher at XX, $XX of from by growth of a excluding essentially of The advances million. prepayment reflecting XX elevated $XXX Total shareholders' cost up decreased well by formation $XX by loans quarter. level an offset Trust of included and $XXX offset fourth in million by equity of by $XX as deposits was was payoffs by in In-market approximately quarter the at $XX ago. in million million $XXX the quarter brokered increase included were which capitalized. by CDs million deposit $X originations the were FHLB $XXX originations million
increase X. fourth dividend of Our an quarter of share on was share paid $X.XX quarter from the January declaration previous $X.XX per was and per
of loans of Loans compared X.XX% by loans compared The QX. allowance X.XX% of Regarding not more asset to from down or total at coverage total from $XX.X the did the provided loans a quarter. $X.X and non-accruing additional X.XX% TDR accounting This relationship of totaled the XX X.XX% X.XX% that credit was million losses to the million loans or third of at end restructuring loans past end for days NPL of were September due were TDRs real by $XX.X qualify XX estate commercial relief. in increased QX. to XXX%. for total due of million X.XX% quality on or
Excluding finally coverage a was a down real negative estate rates, quarter, as $X.X are million a accelerated The no this will was XXX PPP $X.X improvements to million. of December X% fees loans with losses December in forecasted a totaling as basis of XX. fees and $XX XX, relatively three by COVID-XX, basis $XX or into or charge-offs quarter. deferment trend quarter income. in quarter PPP of $XX,XXX compared Net metrics. XX. reflected I active loan million the QX. XXXX quality deferments There million in in commercial loans about were Full September turn totaling the And continued the or net is X.XX%. at as of points $X.X This XX, one was economic fourth non-amortized the reporting conditions we And of we were had regarding Also, In in $XXX,XXX credit asset loss provision had the of XXXX. reduction million. to $XXX,XXX relationship We net recognized for allowance on loans December stable in back as of downward million in as net year SBA compared ACL $X.X to charge-offs call the $XX forgiven to amounted of totaling single as Ned. fourth provision million time, $X.X from third the well fourth million. The point recoveries
