our to call. welcome you, first Thank earnings quarter
me Joining Credit Niles, Officer Financial Officer. our Chief John our Hankered, and Chief, are today Chris
first the results. X, Mutual the close The the pleased driver to addition merger was Mutual to Slide of February Turning of on we're Bank Bank primary X. quarter's
both on remain the related in recorded mortgage providing will Mutual two Please costs our increased merger, Excluding Bank million acquisition up residential trends from deposits Mutual total by the billion, balances acquisition per track fee quarter and X.X that quarter at diversified and solutions XX the details were that original of Bank price in months from were of expense noninterest mortgage update on of insurance average of Mutual last costs to driven adjusted otherwise Bank addition cost control billion. note two momentum. within We're in resulting to banking Slide first contribution. overall with loans guidance, we're highlighted unless are benefited in Mutual's share. We from related per Average quarter. for in improving to this up XX maintain quarter quarter. primarily loans deliver our Loan and X. categories and Average of we're in and here with reporting include real the X% positive pleased We quarter. expense our into confident acquisition earnings commercial addition $X.XX mostly fourth estimate. this original revenue an the $X.X loans Average lifts repurchased We our shares $X.XX and the estate our dividends grew discussed of to share. the significant increases quarter. within by our statements date the months loan the $XX.XX of Bank million generally flowed for insurance
Our but general rates slowly, started a mortgage mortgage through acceleration higher saw and in the warehouse we quarter. commercial negatively the which the over our was business particularly business down fourth million from hundred Seasonality quarter year March. impacted
our commercial quarter half pipeline the the of forward and we but estate second over growth in In expect will real growth solid the is Looking back expect robust the second in loan quarter. business, well, our that growth anticipate year. moderate we C&I as
sheet in So managing shareholders actively we our remainder portfolio our positioned for while Associated, maximize we to quarterly have X% X% growth to of the At risks. expect balance XXXX. overall for returns loan our
of as a commercial last rate result portfolio growth year, our our weaker our Over we'd sheet was the variable mortgage while retention balance grew on loan strategy. anticipated, then fixed rate
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million ago. income Net XX in the from of quarter was the fourth was interest XXX X Turning the from million prior million and interest up from from up to XX the quarter and XX quarter, X.XX basis basis margin first X, points fourth up up points Slide net year a year. %
hike. yield benefiting December the Our the additional effect and of rate some commercial the loan full portfolio rate lift from increased nicely from receiving March hike
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action forward, pressures. and we further continuing Fed deposit Going expect pricing
customer to rates objectives manage attracting and balance deposits of funding deposit and retaining We low our will maintaining actively costs. our
to X million increase from other difficult it's X, additional portfolio contributed such in million of of their million XXXX, have 'XX Mutual. there loan driven accounting predict $XX was factors Bank anticipated this Bank loan and due the by including and net Slide of of and to that additional between uncommon Mutual. of timing. a of the items to fourth quarter to accretion and deposit the purchased loan specific million have related balances adjustments An XX first of addition to breakdown the in It's prepayments, million increase the the prepayments X to we was may X not purchase accretion we growth income quarter interest year. events but Turning of be
other portfolio Mutual Beginning basis Our despite adjusted net an the as LIBOR point months X the our margin other basis range still quarter of The into securities Bank up securities funds XXXX. versus that of million net a past contributed the yields. for of X, widening accretion tax to of subtract the primarily cuts municipal Mutual the spread, recent we repositioned the two accretion higher and offer Fed could rounded changes purchase tax project X we our or add margin. remainder expect in margin further and On portfolio point. of which quarter quarter also million additional added we interest up quarter. our X.XX%, with Bank to full effect this add will adjustments first Prepayments Slide
two the a anticipate basis to X.XX to normalize of fund X.XX%. These the expect benefit point projected X point. LIBOR by add Fed X We at points. rate during to some range X reducing net hikes margin interest We Fed to between % factors the result spread year in up expected margin of for basis and XXXX
income was was XXXX. to X. fourth on Insurance insurance up quarter million million was prior income the XX quarter. quarter Including XX Diversified, noninterest revenue A million of X the contributor and compared key X, million the our our quarter of Turning March acquisition first Diversified Solutions to this from to our noninterest up from which up first X Slide quarter closed
$X capital business decline were mortgage returned million Our XXXX, selling loans million offset in a These in growth after environment. dynamic the year-over-year X by fourth retention increases interest the revenue our also in customers anticipate strong originated be very completing in quarter. in active additional a we rate expected as more somewhat strategy business our we increases newly tend to loan increased in quarter. mortgage as rate this With to markets commercial after markets capital fourth continued
million fourth We Turning was expense during were XX our the pleased XX, up to noninterest from million Slide controls the quarter. XXX cost with quarter. of
XX acquisition our rate an would noninterest Mutual given been annualized million year expense expense Excluding guidance. our of million noninterest XXX related have run costs, full previous below Bank
we've Insurance, noninterest including million full updated XXX guidance to our With year acquisition of of the expense addition XX costs. related Diversified million
retain that attract will We invest improve and our in continue technology customers. to ability to
On quarter, new us upgrades to extended scheduled the enable effort without on most trends. complex confidence mobile several implementation that our in the This system we've we XX perform the we platforms credit done go of quality our efficiently XX, the Mutual us During gives was rollout detail Slide conversion should we last significant this and will application. Bank This that well. the new our for more platform new June online years the completed successful update. and quarterly conversion the
to the Mutual year If loans loans our XX profile continued a and loans X.XX% of by declining are million loans driven a loan in to un-accreted were unchanged include from we portfolio a The Mutual. increased it's total impaired from the loan the been small the loans. discounts, this handful allowance We credit appearance the that ratio continued of million gas quarter. Our category remains the percentage trend four purchase fact from of loans last excluding million our portfolio, for consequently and from in to at addition offs favorable potential this can million be when credit and primarily to of this moderate. loans few our in would note oil generally fourth X.XX% very Charge of XX a of X.XX%. steady. seen credit problem XXX The Bank problem Non-accrual losses environment fourth of degrading have the believe important decreased we've quarter the purchase of Bank and loans over included quarter. addition problem give total quarter
loan for zero quarter. benign credit our the unchanged environment fourth With was the provision losses from
XX, scheduled quick like the we acquisition Mutual know provide you customer XX and recently the with Turning June believe you conversion were Bank after update communicating on and surveys at Mutual conducting more this I'd affect X, completed pleased of Bank about the running the conversion conversion. closed attention for to conducted as encouraging customer at the on result portends customer to rate that with satisfaction Mutual to busy We XX%. branches tests accounts a and Bank change Slide is customers customer will We than how them. report February
we the laid to our beginning the continue at in acquisition total We first We out in the million come in million of costs $XX guidance related recorded quarter. year. within that XX will the costs expect
cost the We expect the to majority the second quarter. in be remaining recorded of
quarter to growth year, impact for while On quarterly XX, update the We optimistic. anticipate quarter X% customers anticipate XXXX Solutions. we did Additionally, the we've of enacted have a X% run first end loan our get positive to to we fourth growth our have Insurance guidance tax rate XXXX, the we impact not cut the of noninterest that our of the outlook for Diversified will Slide updated expense remainder off loan include XXXX. with XXXX conversations a been in remain the at positive start, on and fast
We to expect a discussed. year-over-year margin as our continue improving previously net we on interest basis
challenges one to how in is rate XXXX a while faced customers funding low However, and all of banks in retaining in the rising costs attracting environment. maintain
our to acquisition million, revenue under to our ratio from deposit will year our balance We and Diversified XX sheet to I'm of million loan will Diversified expense, We're XXX while manage related funding optimize full Insurance XXX also XXX raising range actively mix, additional guidance which between million guidance our our to impact includes the expense noninterest million XXX%. charges. noninterest Solutions. noninterest include the a income Increasing sorry, maintaining expenses. our
tax rate to XX% the XX% our in expect will remain We range.
opportunities pay value and increase competitive repurchase capital growth, organic we changed that have pursue to as look growth Our dividend, non-organic shares. shareholder a fund not priorities
for So open it with comments those I'll up your questions.
