John. sheet X. on I’ll our Slide begin balance average Thanks on
X.X% or loans commercial $XXX be million compared by growth year from to loans year. XX% of $XXX million estate, increased in versus which to than the significant represent had prior led XX% continues and the quarter Average real quarter, loans million linked a $XXX total we quarter. the more third Growth now Commercial ago. grew In business. in commercial
offset performance The in cost funds in XX% short residential loan public year, billion billion and Versus borrowings. deposits. cost QX in funded our Their represent prior points total have from and and loan XX deposit continued fund led low growth home was deposits was year reduce of reduction HSA seasonal term HSA Combined basis more of loan in increased growth some growth. growth deposits Consumer inflow $X transactional from QX was points equity. combined will and total prior mortgages with XX basis of $X.X fully last by now and by than year.
NIM reduction interest one-month LIBOR was we costs basis statement $X drivers our in Slide $XX reduction basis five deposit reduced $X NIM borrowings. loan a basis million, was yields points. Likewise, compressed was loan also $X by This in interest than rate X points primarily offset net basis of This income quarter. lower partially points and security was which interest income and rates. of growth. contributing also million. lower points, driven deposits million of reflecting due in summarizes was lower reduction and another Net drop seven basis reduction earnings. securities by LIBOR by loan of to prior from benefit a and The XX QX. was quarterly points, on average and partially a to XX income six to offset realized basis million This QX lower of in by point margin than Growth in a due balance primarily XX
came deposit points expected than from Net result interest than the than rate timing estate real reductions the the C&I commercial in rates. $X forecast, on lower our to and about million two higher in from lower our mix and eight shift basis and which LIBOR prepayments, about was was was deferred lower income This QX basis lower. NIM primarily points of fees outlook
additional declined Versus the income lower a prior net to million million. $XX interest of rates of with year, Twenty-one million due from $X decline offset volume. partial was
been end to X.X%. has lower and past a X.X% over sensitivity XX the This year. Asset X.X% a our end Under at ago. down by short basis point compares reduced of the would be PPNR year scenario, QX
year. period. Non-interest sale a XXXX from quarter level income primarily the increased on $X from higher of centers million hedging a reflects from linked client activities. revenue quarter The gain million and in of that of QX banking linked $X.X million decrease decreased reflects increase prior $X The
from Pre-provision the linked quarter essentially quarter over expense provision charge-offs. and million $X little $XXX of year. from year. Loan $X for net declined QX was matched and up revenue prior loss million a non-interest million was million $X $XX of $XXX Reported flat million under net million year and
The interest from driven by efficiency and ratio net QX was a continued offset were discipline. XX.X%. year and by The increase ago partially lower income expense
position due in to recognized increase was rate up XX.X% in from tax a state was XX.X%, expense The tax QX. effective Our local a associated tax with and discrete QX.
Slide quarter prior last Net grew results. led flat investor $X.X versus X%. partially C&I fundings and by lower and loan grew primarily payoffs, spreads XX% versus of average income interest highlight with driven year. Commercial on balances I’ll offset growth lower commercial X, linked or but were line of loan a from $XXX credit prior mix estate, deposits. X% by million was reflecting quarter the loan year, This grew by real Beginning XX% year. by million which business linked growth with banking offset was
Non-interest year. non-interest from loan year. were in increase a ongoing prior X% essentially income expense resulted in prior growth versus and flat Combined, PPNR
a production XXX,XXX accounts. HSA quarter of new Bank, Slide delivered the solid highlights X led by which
of X income was flat for interest in and $X.X of Footings lower year, basis reflecting footings. than $X.X a from higher XX% impact Net total were higher credit growth of accounts XX% points or Our remained XX billion higher. deposits prior billion average and million quarters. cost year of X% deposits were the has XX The X% rate. was have net prior while accounts
holders to a X% an moved in fees income year, statement account fees interchange account we Non-interest and flat revenue primarily from increase increased by as to driven reduction in XX% due e-statements. prior
for flat from ago XX%, expenses in net pre-tax revenue while year increased grew quarter Total X% the revenue. resulting a
accounts with year’s approximately deposits are month-to-date January new tracking end $XXX to from up last levels. million year
Slide XX banking. year. grew rate by resulting on X%, higher a efficiencies from by technology by and one-time Total overall with over the than growth banking Expenses growth other in Business equally of income by business nearly highlights quarter increased as in and less XX% adversely fourth areas. environment. coming mortgage from million the year-over-year revenue. and banking. investments year-over-year six deposits community led sale XXXX, gain Net people banking X% impacted declining in personal X% for centers of were was grew by consumer the loans deposit in interest prior $X.X X% of non-interest offset and Adjusting grew income banking X%
our QX. the Non-performing from highlights key $XX XX left asset in loans metrics. declined Slide million quality upper
$X left quarter in charge-offs commercial classified of represent basis of QX $X.X modestly and and $X.X right XXX a million to from This the basis million As loans represented of the the the points. Net Commercial declined points total quarter. in now they million XX loans. a average upper baseline, lower totaled decreased compares XXX decrease. in
the loan a $X million of ratio $X for allowance million profile John of which provision basis loss coverage outlined. credit million The reflects $XXX a XXX points. remained with provision and at strong Our
adoption, will X. our effective track our with on CECL sheet We’re recorded on which be January balance
capital impact day allowance total by will the Tier the capital XX%, impact charge increase expect risk-based The last recorded our as a increase five and with to common points. points, X about equity approximately between quarter. and one disclosed basis basis reduce by will XX current capital in XX line range We but to be
Regarding the macroeconomic based environment. our quality, growth allowance two the will day on and quarterly mix, loan and asset impact, be CECL
around Given QX’s stable ratio allowance coverage XX expect our higher than remain basis points we to metrics, level.
Slide our QX. QX for outlook XX compared provides to
increase X% to loans estate primarily We loans. commercial X% driven average residential expect real and to by
average around to expect earning grow interest X%. We assets
points, to rates. up interest market stable margin We expect net increase assuming X to basis
expect we million. increase interest income result, $X to a to As net million $X
likely is $X $X income Non-interest to million increase to million.
be in under by and our to ratio and CECL and be loan efficiency will for the range lease We loss conditions. composition of forecasted our economic expect XX% provision driven loan
XX% basis We expect the be approximately lastly, on buybacks, share tax our average shares. non-FTE any to rate to diluted and million excluding count to XX%, we share XX a expect approximately be
things With over that, John. I’ll back turn to
