Thanks, Diego. XXXX earnings our call. to And quarter fourth welcome
are Chris Officer. Pat our and Ahern Niles, CFO; our Credit today Chief me Joining
succession results years our announce XXXX. plans I'd retire transition few also and CEO this full agreed After is about for of to the in today to at I say discussing about Before the a fourth like words the to Board, we the announced. our just I've this consultation initiate we with thinking been process. end the some for time with time, and Associated, XX quarter year, my right
from our to Board an external new is time consider commenced a thereafter successor has be as as and advisory my release, the a The colleagues. smooth well roles the transition the and candidates. assure for will search for and internal permanent in continue as in I'll both CEO at our customers available a in and to those CEO successor press I'll from noted place, As of Board. which President step down will until I capacity
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optimistic are demand loan about in commercial We ‘XX.
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of year summarized estate that eight, and and Taken the COVID-XX real together, expect relief X% our efforts commercial slide commercial growth to full loan for we've industrial X%. is commercial year. combined, we On
where additional year not our and During make year, peaked year saw primarily to remaining initial in positive deferrals just points have million. end. we're payments. Total their very with normal month are who been just At The resume loans were making assistance, are the trends customers mortgage the at Most able still end, throughout We $X.X up basis borrowers billion. residential very received XX second deferrals at period. we quarter, and deferrals ended. have needed deferrals that of deferral total pleased deferrals $XX approximately X
expire or coming deferrals the expect cured without consumer be any We to all of quarter. in implications credit substantially these
allowance Moody's looking CECL a is available this vaccine nine. stimulus, additional assumptions. forecast Our that quarter. for forecast utilized through rates baseline late low shown assumes December widely continuing The in We baseline XXXX and update on XXXX becomes our forward slide COVID
through and reserve net a in release we We of have move previously the expected million. indicated reserving quarter fact, our to reflects as $XX fourth taper that year we our
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was $XXX $XXX loans our about the the X.XX%. allowance third As total X.XX% at Similarly, end million, to XX, ratio our quarter. was million December flat down reserves of from of to of
credit all are declined net problem metrics during potential on Our XX, loans quarter. presented charge-offs the and non-accrual loans, slide
we note reserved Our and declined that had to all the no quarter we exposure decline. charge-offs oil that and gas continued quarter. during And retail gas, prices our oil well key we're currently a above net going $XX XXXX. barrel, confident restaurant commercial exposures also into COVID also this with and holding oil We'd and notably are
Assuming continue, $XX expect our more credit XXXX no positive to the full million, variability. provisions dynamics than we with be year quarterly some
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rebounded then expected, in margin bottom in to December. X.XX% As hit and August, and July
floors, spreads and reduced new activity loans. Asset LINOR yields investment on implementation from of widening benefited generally our
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repriced ‘XX. book, plus X% and also which in first aggressively have of $XXX CDs, our million mature consumer yet the half We still will deposit
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expand throughout year. move the to as expect our we see margin continue to We
We expect flat course to the interest quarter, gradually our expand in first and over fourth through of to margin relatively be the the net second quarters.
X.XX%. year's the We expect full margin be and to X.XX% between
income fourth in $XX growth. all slide came wealth to quarter’s banking, contributed service fees charges to XX, Turning million. non-interest management at quarter this and Mortgage
million $X our premiums announced recorded branch also previously We deposit on of sales.
fee million remained quarter, activity in with $XX strong Our nearly this revenue. mortgages generating banking million to mortgage net agencies, $XXX sold of the
temporarily We million also fourth $X over recovery in still MSR and MSR year a at impaired during have the picked of up nearly million quarter end. $XX
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sale, highlight As and $XXX of slide expect to $XXX million we non-interest of we the forward expenses. pending we XXXX. XX, Whitnell look net our On in income
ABRC came sales trend which we sale mostly quarter December. of The inside level to closed the reduction of the and third at of in million expense continue in the driven $XXX expenses targeting. $XXX lower, million by the Core largely following were branch
provide initiatives as into we further We expect XXXX. move savings expense the to
from assets to see our expenses improve the our efficiency the X%. to is to already adjusted and continue ratio can charts trending you right, As average on trends
pending Given dynamics these Whitnell, year our XXXX and million. positive approximately expense revising $XXX to of sale we're guidance full down the
on shown levels capital remain XX, As strong. slide regulatory our
grown quarter, points capital Tier a conserved the uncertainty. equity of X common quarter light from from as first we ratio XXX points it's the basis third increased economic and XX Our basis in
our excess ratio from grew reduce to higher levels we the cost forgiven. earnings quarter, lower cash deposits, solid be to basis as loans TCE began from XX Our third and PPP and points asset used benefiting
this into quarter. As look resume opportunistic forward expect to share ‘XX, repurchases we we
to CETX continue X.X% target and or at above will levels TCE or at above X.X%. We
up, XX, So on we're XXXX. to for wrap providing slide guidance
We expect XXX interest points. full basis year XXX net margin to of
the previously still We banking to down $XXX income We're million to in expect revenue mortgage $XXX our between $XXX expense non-interest revising from moderate, million. to million to come $XXX approximately XXXX guided. but guidance
has annualized to of quarter, run since Our about an credit million. provision fourth losses quarter rate trended for second the $XX down
believe generally annual to be trends take better expected, XX% quarterly as provision with some XXXX economy credit variability. questions. at million happy we’re assuming will be to positively full any than expect behaves the XX% in tax to rate we the positive the is With your we $XX our our normalize With range. of or that, and seeing, And year we'd
