everyone. morning, Good Bruce. Thanks,
XX%, down came expectations excluding than loan investment in build-out line a Slide indicated, these expected private our Fees notwithstanding in Full that was trough full in a bounce pickup dynamics, with a to of ROTCE our and were lower at year XX.X%, broadly can with underlying the items.
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of strong our an losses maintaining credit in franchise the environment, competitive year.
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to than lowered our as average, our Our was better improvement a rate deposit well the compared in strategic has meaningful cuts, rate costs the performance financial initiatives, Fed allowed peer with aggressively providing latest cost with We we into XXXX. against And XQ. we prior have cycles. head strength momentum us execute Importantly, deposit
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market referencing in we We complement details. the highlights to of a EPS We income $X.XX and forward. creating results, ROTCE before million, the of a coverage are investments our impact financial get expansion and XX.X%. and going markets our steadily into the tailwind overall includes which from that generated X commercial This with solidifying we are negative private quarter investing of middle run in some our fourth the $X.XX underlying bank of success.
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executed $XXX also million stock buybacks We during the quarter. in
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cumulative interest-bearing down initial Our deposit than about expectation. better XX% our beta was
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noncore and The at X.X% lower have benefit Slide rate exiting million up original demand runoff make is $XXX $XXX target run progress period-end run in C&I given which Bank continues and down against Our commercial nice of achieved quarter. And efficiencies a to in were $X.X line the portfolio end linked and rate the end decline we the of of XX million were program of our year. loans $XXX is client loans which with loans low slightly launched backdrop by to down XX. reflects our paydowns Average billion about program, $X.X TOP targeting TOP the a in This million. X million loans pretax utilization. CRE the Private billion above of year approximately $XXX period-end a XXXX.
On
and continue to job noncore Private deposits with with customers XX stable offset the treasury was grow private to a tied rundown continues linked very were $X on do bank liquidity to the quarter billion add XX, and period-end billion deposits $X.X This deposits. broadly and environment. a good in growth and optimize higher of Period-end nicely cost the Next, the the on value a in attractive about of in paydown The deposits Slides Bank effort we retail end loan deposits. and year. of to competitive to continued primarily commercial dynamic up at proactive by
franchise categories. rates. lower at seen deposits this low-cost as did a retail Our retention And turns job in importantly, strong over portfolio we've the quarter nice raising CD
our Combined, noninterest-bearing environment. $XXX grew Private low-cost deposits to the also by total million Bank noninterest-bearing continues very fourth deposits by our deposits increased and and driven of the in commercial. a franchise perform We in quarter, quarter. flows to seasonal competitive XX% Overall, about deposit linked well in
deposit interest-bearing quarter, down basis down points translates linked which are to costs a XX XX% beta. Our cumulative
XX. Moving Slide to credit on
note, the over reflecting were lower relative As decline commercial Retail expected, fourth were with Of nonaccrual office quarter. the quarters. an stability prior commercial net were the from in basis in points in offset loans. charge-offs a of decline stable. points charge-offs given were charge-offs C&I number past a XX primarily in following the increase was XX Criticized resolution general slightly, by stable down compared coming real loans at broadly few portfolio. basis estate general quarter, of A the loans in office meaningfully
consistent portfolio out. make new the in into to work inflows continue working We limited office progress general with out
allowance the on to XX. Slide for losses Turning credit
overall balances. effect portfolio lower reflecting linked denominator slightly quarter X.XX%, the primarily coverage increased ratio of Our to
as cumulative loan charge-offs loss of $X.X general third continues XX.X%, declined reserve strong the retail expected reserve profile. Note office estate rate quarter general that the secured reserve auto reduce. we the portfolio represents office, reserve broadly from loan portfolio of categories and The about portfolio our light March industry macroeconomic mix While losses originations portfolios billion up given XXXX runoff XX% a plus of as an commercial slightly overall to in balance that the XX.X% of the coverage lower which translates current when in a and and improving to stable coverage commenced. is for million, have the a against such the for maintain content $XXX outlook in loss noncore real certain
Moving to XX. Slide
sheet strength. excellent We balance maintained have
AOCI opt-out Our CETX with quarter. Adjusting prior impact CETX ratio ratio at XX.X%, rates X.X% long-term which compares in XX.X% quarter. the of despite the our in the higher relatively steady on to for strengthened AOCI removal, interest the was
returned million including total to $XXX a dividends, common position, shareholders quarter. repurchased in we've the Given we our shares strong in and of capital $XXX million fourth
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billion Note rates to at Slide the we've targets adjusted our $X the $XX had overall a progress, our Slides your XX, to on regional billion on to from updated bank-owned AUM billion. demand. and amongst parts: bank private bank XXXX billion Slide to can in the our and some Bank deposits XX premier positioning which on and X borrowing $XX Commercial $XX billion bank, private read strategy franchise. date. we've of Turning We positioned XX. aspiration given view transformed peers, you our best build our consumer provide and bumped convenience. private success loans to to $XX We for XX updates higher to wealth impact from We the given
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XX. year of Slide rate XQ, a XQ you to cuts, X.X% X% Fed the the Fed forward with curve funds I which of with XXXX to contemplates through year XX-year outlook, in X our a in rate other Moving treasury ending will one X.XX%. full and the and take
growth We loan noncore the We low Loan NIM early and digits, growth expect to demand spot X% loan digits an up selective be muted XXXX. noncore. year. increase the in commercial by about and driven X%, by X% paydowns overall will mid-single in project to in and single in for NII CRE impacted be excluding to more primarily runoff, originations
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projecting in to we our our about want X% confident are outlook be up to growth XXXX. as up are revenue investments expenses after step constrained initiatives We in and
would Excluding be the Bank X.X%. Private in and about increase Private the expenses Wealth,
the showing walk XX.
When to Slide components of expect have outlook positive our leverage expense revenue together, XXXX XXX on expense of and the for We operating deliver we provided key a outlook roughly you put XXXX points. basis
to charge-offs in net million trend approximately million to for XXs outlook is terms. Our down to point high $XXX basis or $XXX
spot We will growth, see likely and the the macro and general for of remixing modest course the continue portfolio of to balance trends, work sheet releases given through office portfolio will ACL expectations the over the uncertainty we the environment. medium-term macro to the year year.
And XX.X%, CETX finally, our end to the we with XX.X% above expect in in given of is continued strong to XX% range, operating a ratio which range XX.XX% the
XX.XX% engage loan and interest on impacts the share of and we revenue, worth the and to namely able the compensation of with the levels, expectations good noting We quarter a range FICA fees, first Credit the loan of reducing CETX expected to amount below would the growth seasonal should first quarter. repurchases and lower pressure we expenses. and It's Slide improve, we has monitor costs. share environment quarter with the on the XX.X% on opportunistically needed.
On payouts that share repurchases. reset we if we are repurchases. use will deposit to in income growth first that XXXX, were end impacting same trends in provide markets day and in count Note XX, net taxes guide impact playbook XXXX market capital for was in As less offset
Moving to Slides XX XX. to
improving important medium range in the over a XX% target. we is our achieving out we XX% margin net look part clear we our be an to the path XXXX. to interest of As which in project term, X.XX% ROTCE to have ROTCE Expanding X.X% our to
rate elevated On our a funds target end our This the upper or asset Fed of to at balance Fed will help our sheet above NIM or an walk to a Slide we XX, maintains sensitivity, However, given the to range level higher. at provide if XX% deliver XX% positioning and our X%. ROTCE.
tailwind fixed basis NII the dependent points XXXX.
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XXXX, short, In delivered we we partially offset mid-XXs mix up, in broadly more auto solid and a XX% are with line with reflective should generate bank the our expectations. and our to XXX should providing impact the a of normalize in to XX% the the will ROTCE confident and Cree with the should private generate from environment. our have drive from to to benefit normal successful overproviding see returns on earlier, revenue about another positive with credit versus meaningful add operating we which low key bank which wrap some target.
To feel in improving execution more other the to share annual initiatives charge-offs benefit plus ability basis C&I. and AOCI expect solid of talked very been in efficiency points, business, legacy with We growth today. core a ratio, repurchases. which time. leverage medium-term I today points loans portfolio XXX ROTCE.
We impacts where achieve will This performance of basis private improved less to improving
capital leverage returning positive disciplined in the strong net a with position quarter. We that quarter capital interest results excellent markets ended credit on turned the drive to our with margin, forward to and Importantly, position we strategic and operating in puts remain fourth delivered us improving an liquidity on the year expenses priorities.
We are Bruce. medium-term remain confident we to target.
With our it well XXXX for hand over that, to XX% return deliver ability our XX% positioned and in to I'll
