morning, Thank XXXX you, Sarah, and webcast. everyone. Welcome call and conference our quarter fourth to good
recapture. PPP Highlights and income XX% million X% or excluding XXX,XXX been year of effects would the for prior the of net up from quarter, OMSR up $X.X the and quarter the have program
For and full million XXXX, for was $X.XX. with income earnings $XX.X year of net diluted share per
with off over X.XX% of just of $X.X and When we XX. year X.X%. be OMSR average results the assets exclude by would equity earnings, PPP million on impact from both of our full Return return or just
and and costs. have the interest or loan the $X.X year just yields million of over offset was growth from million deposit prior other up in Net XX% as increase funding income $XX.X increasing
balances, adjust up rose When we loans million, XX.X% the prior the $XX linked or quarter for Loan to balances compared were from year. $XXX million. PPP
just year down and quarter decline. were quarter the year. from prior the the $XX but from XX.X% X.X% for Expenses grew from the were down million linked linked slightly Deposits by
revenue $XX.X just over year million the mortgage to quarter contributed million. volume The line origination million XXXX was business for $XXX total full just for Mortgage for for in compared the million XXXX. $XX $X.X
difficult This million reduction of fully revenue $XX overcome XXXX. to in in nearly was
strong our negative expanding impact. long margins However, growth did the reduce and
at And second metrics we loans. point. remain NPAs for net with basis the recoveries quality reported consecutive strong just XX year, Asset on
to continue key course our We and our as initiatives growth, diversity organic scope, initiatives and excellence that quality. more growth, for through scale identify and will products five deliver always revenue more more asset strategic households operational services, with
diversity. Revenue
volume the The our million For produced line of $XXX higher full percentage below and in mix This volume mortgage evident XX%. rates and refinance we full XX% purchase in $XXX year respectively. purchase split compares of construction between lending at our we the refinance year with volume for and to generated million XX%, and well and XXXX. of just business when XXXX impact of is the XX%
decline. The adjusted recapture current we year-over-year million the began of line expansion a years, of fourth noninterest mortgage both of year. prior X.X% compared the business the from $X.X XXX,XXX XX,XXX in of to recapture a the When quarter level from Overall full is a we Since of of to our billion exclude servicing originated includes residential the impact quarter to year now compared just lines million. decreased last for decline XX.X% income mortgages. have X strategy over XXXX, we the $X.X in quarter business mortgage mortgage
of near Mortgage Looking forward, production. to traditional we fully levels expect our volume that's stabilize Residential something
XXX million. adding footprint are In across of mortgage deliver to XXXX lenders fact, that in run rate we more annual at our reduction approximately
the did in our pullback with as production. current in background support align light we volume in achieve this efficiency we to said, right-sized line staffing year, greater the level That the of of business
risk clearly this contribution faced pressure The assets while to division markets exceeded management decline, net we our during evident. the were constrained further as income. Our their equity under management. and under year under pressure experience distributions market wealth year-over-year our assets XXXX. contraction management headwinds that And was And
XX% or assets $XXX Total wealth Despite million. million. another over and assets revenue business reduced AUM just million new just were the for of $XX just saw the down line XXXX $XX year and under market finish $XX to million finished our $XX level year was the at realized for reductions, approximately $X.X corrections million, total million or delivered We of by X.X% these and at down million. management $XXX distributions
to pricing in able on revenue the due were emphasis from lift renewed our a this brokerage neutral to we closer increased implemented which XX%. decline experienced late XXXX and keep We revenue platform, by to year our that adjustments we
Second quarter. for year initiative, quarter the the as quarter from linked and growth $XX -- PPP net in more Loan $XXX quite were prior was as or million we the XX% over scale. from million of strong up mentioned I
regional with implement All to make solid we new system. targeted as and of calling our pipelines, inroads markets CRM continue our
we XXXX. grown quarterly over portfolio every this consistently our linked With now loan noted have growth quarter during
year to are lender market key in of presence and and growth committed an two our Wayne, and and our Ohio markets additional leverage We newer XXXX. the Indiana Fort Columbus, adding one Indianapolis
assets, as transactional to arena only intend loans level provide lift to in place our those more on to also not well. deposits more earning higher of C&I lower fund also XXXX but the emphasis We to cost
the systemically over year. reached of loan pandemic ratio the and to post spend of client to rates, the nearly post deposit our As up of growth, pandemic a deposit funding leading higher curve, expansion quarterly year downs, growth yield more annual our due to XX.X%, the have prior basis which Deposit investment our is and competition, inverted portfolio. result loan high challenged a effects new of and been this XX points
need. identifying been that As meet sources more has growth accelerated aggressive we rates a loan deposit and raising our to result, in for have
to lending should for also X(a) cost SBA opportunities focused emphasize more lending a begun we've mentioned, pivot C&I renewed along traditional treasury growth management I on lower and more with transactional drive services and and As deposits. which
end PPP work successes able year, balances of to made SBA identified rate as we fee We Traditional and lending the our close were and just scope. over some we the year to initiative. before more closed deliver loans during X in headway in from on expand XXX,XXX to the continue last the million we over Third, income.
our to XX we As loan to around expect into approach XXXX, something look historical of forward levels SBA million. we XX million originations pre-COVID
Our pipeline anticipate first strong quite a we and quarter is year. this very strong of
over advisory sales new post $XX continued be interdepartmental Referrals center initiatives. our board, our produced year, in over XXXX to referrals, our the delivered our company. of business staff, million This board, to our
greater The we is hired in expand corporate identify work the to and of up sales role and those this are where priority these fourth now champion number our households platforms incentive quarter in our our teams households, running, into is to how in tools the smarter achieve penetration. The integration new high salesforce and can starting to and of key products and company. services that for market we business and development just
our Operational theme. fourth excellence is
amount product producer of been of traditionally construction a small with mortgage a have residential lending. saleable We
income of highly profitable years prior built portfolio. to revenue sold roughly of every our billion XX as non-interest XX% to the this This $X.X servicing a XX% in a drove fact, originated over percentage we year mortgage volume. In year, and
some and competitive residential in we've XX%. duration pricing needs clients squeeze discussed our during as this risk rates increase mortgage a sheet mild a to margins more We funding drop prior home inversion on became percentage costs. added portfolio and continuing intend at resulted total balance just emphasis of and historical the higher the has year attractive obviously margin. in on funding to from to With to the This more in return to sale level XXXX, curve necessitated buying of as rapid we quarters an a in for XXXX anticipate our sales to has
Operating prior from for Included year of this payments to these X.X% majority also saves reductions our line. reflecting reduction quarter $X.X $X.X originators. the million staff of was by salary business the level the XX.X% million lower full the and or be operating were benefits cost commission The support or in segment, in in and in based expenses the year down down year costs full were would
in rightsizing align trends Additionally, constraints. select hours markets customer to will office process also with better and retail on hiring we're the pressure of that reduce
rate quarterly expenses allow our return operating forward, leverage for run a positive should XXXX. Going to for in
spend experience staff street, expand in service more to greater Our time this consistent We share. local our single market one and an to with to ensure and engaging contact strategy efficient households. initiative to will the businesses take client those our client will continues staffing This requirements. aid pressure that garner efforts allows office on the driven bankers community office, retail of out center our off believe
Fifth quality. asset and finally
in added to I to loan was XXXX we provision the despite reserve XXXX and factor. mentioned, not While XXXX an we offsetting in chose take significant million the certainly any $X.X growth
non-performing as net this in and 'XX. and XXX,XXX XXXX for over have XX% we all in net XX,XXX declined in Our had referenced of earlier, recoveries year by assets recoveries
I we million will Tony, our approximately before in it adoption finally, now. will seasonal the turn And over add Tony 'XX will to talk to of that reserve $X.X levels and our quarter first occur here about
Tony? So
