John. provision on for the non-interest as and Thanks, losses. credit margin, highlights and some cover non-interest credit expense I'll well income as
talking by about also and note QX balance operate $X interest QX billion. I'll we had average continue versus approximately we that And income that to quarter with quarter comparing a totaled sold for begin two cash $X.X significant remember QX, funds $XXX almost the the days of fewer a billion million. ending billion $X.X costing XXXX position, Let's of us XXXX, with million. Net fed in $X and at averaging NIM.
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income. non-interest to Turning
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end. quarter, $XXX system pipeline we'd the this loan our As year origination expected, up $XXX also to after at from improved conversion, million growing million
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$XXX.X NIE our Williams, million. Duncan was Excluding
May This QX present, the full our see NIE save with $XXX schedule million the on we includes after is cost in to across QX to we'll to range. be and for a beginning increases merit QX. to company expect further late $XXX Williams X. July inflationary expense Duncan in and realization. our million be savings date, With conversion continue We quarter begin At
inherent of variability commission-based However, revenue. expense in I'll remind the you
allowance, and respect most are a our negative for for merger that in in drivers a original within subsequent some total $XX with in of Our quarter loss year, $XX improved to quarters. the will expenses caused losses projections I'll the remaining, to economic losses. occur be These improvement of third related our and record now to this in track still million second With discuss modeling, credit. impacting meaningful and trail significant us forecasts approximately allowance led reduction of the with to economic million. CECL to provision loan credit on
economic weighting quarter's this one-third in Moody's two-thirds of rated scenarios SX equally modeling, pessimistic scenarios and we For more the our versus baseline CECL the SX and QX. weighting baseline,
economic in time. forecasts penetration uncertainty success, over This uncertainty and vaccination reflects which quarter's the lessen should weighting and
of if to would we It's, constant additional would result incremental by such future and, in that caused as over of themselves. releases forecast, that reserve SX the in economic additional we scenario releases releases. be would to all hard magnitude the ahead, That to predict other Holding occur. reserve obtain Looking weighting improvements factors were therefore, the the and to speed economic clarity expect reduce in the confidence course, forecast any time. of the
another actual our pandemic recovery. loss net historical the shown below small On note, quarter expectations, far losses the models. Slide fiscal captured we well the driving excellent XX, as nature been that thus data recession but a pleased driven of the response of have are not on with had that results these and in We modeled are
dues, remained assets criticized past Our and low. classified
Our NPAs deferrals declined and our below the X%. quarter, dropped for third consecutive
excluding CECL level X.X% above Our unfunded ending X.XX%, still commitments, basis adoption. approximately reserve XXX well reserve excluding levels, point for or PPP loans, at were the the
provision a expense With provision a XX% ago, were year $X, a $XX.XX, in formed on significant sheet to up CETX this per a quarter growth with was and net negative a If would a we prior which to tangible Compared grew a balance strong at with over ratio book capital QX. per capital. our ROTCE. year to MOE ROTCE tangible is rate $X.XX value almost a with up share which been merger. is XX%. have book very higher income, over the from share our XX% the higher value Ending Turning a pandemic removed, and XX.X% quarter last closing, of negative
and noted window As the $XX calling be debt opens in X% in June. call release, sub million when we the will
be payback preferred weighted five in we quarter four of acquisitions. cost will be Additionally, a will mark will average and a some various slightly be this trust earnings redeeming have securities hit to in accelerated TRUPs inherited this we million above of approximately to $XX years. older QX. The that These fair value X.X% around
it or acquisitions turn organic M&A. with capital position capital to line strong Our whether John. provides that, returns on us With growth, shareholders, fintech investments, back I'll business opportunities for to you, of traditional deployment, several
