good and Bruce, Thanks, morning everyone.
quarter, referencing for Slide X. the with headlines start Let second me the
we of $X.XX. of million generated quarter, net $XXX For EPS income the second underlying and
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continue to our the in half. hopeful and deal that in are flow see second strength We deal picks good up pipelines
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deposits up Slide XX, consumer billion. up by On $X and up growth billion billion $X.X or period-end were commercial X% $X with linked-quarter led
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deposits, wholesale which grew funding. BSO a away drove our objectives, Given favorable we mix-shift from
our relatively funds result, up cost basis total XX was well-behaved points. of As a
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XX. were retail, on points, commercial in higher linked-quarter, in strength basis office XX a offset We commercial. an Slide primarily saw X improvement by basis again to in and up results a real-estate, retail which due partly Net good used-car general Moving the in credit the charge-offs segment charge-offs values. this quarter slight increase to reflects in points of
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million. $XX general million after walk the allowance Turning drivers the increase even to which our We Slide through CRE quarter. of million, allowance increased covering charge-offs $XX this I'll office, by a $XX includes XX, in of
reserves of at facilitated in stands is second points CRE. X%. the primarily noncore the ratio general auto, coverage was increased portfolio coverage The quarter. overall Our which reserve reallocation to strong basis The to X runoff a a of office increase X.XX%, in the
the you'll than in of worse office On downturns. which is we've Slide see historical XX, that coverage feel represent key adverse a assumptions fairly general we reserve driving some level much the scenario seen
X%. quarter As $XXX represents of mentioned, million coverage general the for to this we built which office our portfolio reserve
addition quality, into location, and running such detailed portfolio, a office of account general takes level details, to continuously across analysis property-specific building the performance In we number that a perform maturity. scenarios loan stress as operating
loan-by-loan a team and more and elements managing on in derisk basis with CRE to portfolio the ongoing experienced very minimize a to sponsors engaging property have losses. work-through portfolio on focused discussions the and borrower-specific the We ultimately
on the view Our key reserves the detailed as as this reflect we page. out portfolio the well factors macro set of
in what would and are downturns. conservative risks rate strong see position. the the are the we noting for default severity value, reserve impact seen any than capital to given are of further property very that reserve, worth our CRE more financial currently we've and significantly deterioration The and what expect adequate we be set loss behind It's assumptions we manageable, previous using
we portfolio. Slide of the providing more following disclosures detail are location quarter there office and type general XX, give the some to this additional the on On are
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number As an of years, growing a both had many of interest in business, you our we've know, inorganically. wealth organically and for
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connections high the families, focus and of attract to companies firms, and often bank, economy. venture These ultra-high-net-worth bankers and with innovation serve the middle-market to capital the seeking on equity a strong the individuals particular are types we private customers to serving
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notable We $X.XX think is impact total, ramp of in going with XXX revenue be begin the These perspective. about people cost plus $X.XX this a XXXX. the an attractive EPS staff, in initial to extremely for quarter to on-boarded to fourth half and second $X.XX for from of be Financial their quarter. the will financial in about late teams second
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a very for advance exciting overall, us. So
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customers full our With the are us, we ahead conversions and behind steam on capitalize branch to serve working opportunities.
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got visibility side, leadership leveraging a banking joining seeing our place our in from we private talent market. we've are forward to with strong in early banking And with and middle-market are with some do new capabilities commercial looking firms. team we the firms can to success build we local what the larger new On pipelines new
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move an Let's Slide TOP to on program. XX for update our
well Our well. and X is program latest underway TOP progressing
performance. protect can business make to environment, continue have investments external the as in program important augment that we well to the Given the to returns decided ensure to as drive we future our
reduce We benefit of some and million efforts our procurement branch million costs. have our other increased further rationalize $XX and to targeted to our by accelerating $XXX by network
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Citizens, impact into Bank second the the increase, outlook also excludes for the the walk Moving the The another some rate year. to remainder provide hold for Slide I'll of will quarter Fed followed for by XX, year. takes which full and I the for of through account this outlook Private comments on
to the Net X%. broadly by approximately slightly. about income Net X%. quarter, be up For expect we be are third to up stable to expense Noninterest decrease stable. to charge-offs expected be NII should interest broadly
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Based XX% we forward XX%. of terminal curve, interest-bearing a on the to beta expecting are deposit
should begin in expected of Fed QX margin is interest reach hike to end the net Our rate the to as cycle. the stabilize
expect we We are of bank, drilling fourth in up impact of private off $X.XX a great and EPS in to this the the quarter third the to be the $X.XX $X.XX and start quarter. to
this So a capital we think of investment. as really
results we external turbulent up, solid navigate environment. our wrap continue quarter a the To to were for as
the are challenging company continue a positioning a as to position, we We with well serve on and which environment focused strong ahead. us will capital, liquidity funding navigate
priorities to also the to us balance for focus future sheet very our returns. Our to strength continue positions the attractive franchise strengthen deliver well and strategic on
back to With Bruce. I'll that, over hand
