and the fixed the of modeling with of X This X a Slides key outline deck transaction and ratio assumptions merger Doug. X.XX. exchange impact. XXX% is financial Thanks, stock a
approximately of Key estimates. consistent of on based $XX merger is XX% after-tax cost saves million. Capital's and costs NIE modeling assumptions modeling for and of are Atlantic integration Our approximately base
a we'd day than at Our have and time points per provision. negligible of QX expectation This X-year loan that accretion with mark basis approximately basis non-PCD points in less close share; $X.XX X tangible XXXX, a transaction is we modeling which another would earn EPS the back. dilution, of value estimate generates XXX in of early X%; book XX
we've to base team have that note no balance I'll synergies, as part we're larger revenue our customer optimistic sheet. though further of chance penetrate modeled a will this its
Let me on bit John's comments a second now our expand quarter. on
John bottom provision. strong negative As after we said, another line performance had
drop accretion meaningfully million million was income, $XX decline mortgage However, was accretion the discount acquired which which revenue $X of QX, by and loans of was but $X PPNR a caused $XX million from in decline and declined a million PPP in accretion.
is QX of to the a deck from the chart showing Slide QX. on impacts waterfall PPNR earnings X
a break and you, me reference XX. Slide down on mortgage numbers bit for some I'll Let the revenue
mortgage which is Our quarter, first quarter. a actually team from up up the second had strong year. producing $X.X billion production the in billion X% to $X.X of first the production last year-to-date in is X months compared quarter, And
in lower changes secondary stays into interest we pipeline sheet to this increase the market, to to the margins a elected reduced to our However, $XX pipeline production that decision strategic on This of mark secondary million. our quarter the the secondary gain $XXX increase versus negative selling decline mortgage more balance environment, percentage rate approximately pipeline, the on causing due to led the and return volume portfolio million. sale normal to large of by and
The by of continues be business, as production mortgage core performance evidenced to the the strong very however, levels.
growth negative as levels the was division the XX% QX. pipeline And population model ahead. earnings and mortgage housing for Given mark not similar our in Southeastern QX, vibrant pipeline expect a volume believe to increased would will business markets our quarters at in the in we continued migration we purchased. of market result The our
to non-PPP loans commercial year, first continues loan growth levels. a we As build, in growing June QX our pipeline our over up $X.X billion XX, at XX% noted, John to had quarter for in and over from
with essentially of production basis X.XX% were loan X flat up New QX yields point.
per funds $X.X to and net by Slide that's our which core average. million quarter's our to earnings respect interest growing was of With cash a up over mentioned with growth, continues illustrated on continued deposit QX, from basis, be QX's average billion core deck. sold position income, John day very on the of high $X.X Fed was flat XX essentially $X With and billion, strong
excluding Reported million as grew X.XX%. up points earning X.XX%, position securities securities net was growth the $XXX QX, all and PPP XX interest a Investment declined funds And with sold the and continued assets. by NIM, percentage margin to of of million. reflecting in Fed basis loans, average core accretion cash $XXX impact our in
Cost basis the of points total cost deposits fell basis of points. to declined and XX liabilities by X interest-bearing
costs basis here. more to make of manage to continue a hope few deposit and points our We progress
in months Williams X a Noninterest full expenses were with flat Duncan QX, QX. for quarter versus with
last million noted we quarter, NIE we will expect to remaining $XXX saves operating continue in quarter, fourth cost third the the million the of most in and $XXX QX recognize range. and to As we
remains $XX.X noted, quarter provision John led of reductions expense negative with nonperforming another quality reserve a asset As strong forecast economic assets million. to in and improving further release with this
with compares scenarios, weighted same XX-XX the and with was weighting economic quarter weighted the X/X this had weighting. quarter's scenario our at SX first the baseline scenario This we in For we Moody's pessimistic X/X. QX
noted purchase The for X.XX% X.XX% absorption to Slide loans, XX, the reserve our on loans, unfunded excluding As if loss accounting end ratio, you commitments. including PPP or ending quarter reserve was was marks, at X.XX%. at include
company quarter of the end, second an From a price the and company shares shares capital $XX.XX. capital return repurchased XXX,XXX bringing the since year a repurchased standpoint, during of after XX. This March additional this quarter represents volume-weighted to return and shares at shares average X.X% the XXX,XXX XXX,XXX total approximately
And our TBV grew ending share after the still at quarter repurchases, second by per $XX.XX. $X.XX
healthy ratios total capital XX%. a XX% capital and all risk-based with very above CETX remain ratio Our above
it turn to back you, I'll John.
