I'll our where Lynn everyone. Page my morning But just the two on Lynn. many to quarter the good you the returns, comments which I'm we that out focus strong this that shows went you, quarter. to notable of Thank items on over. going And X, highlights broke start see of
here. to on likely $X.X were quarter, of gains is number and repeat. we losses equity sheet. which break up investments we The are usually significant But first and small have the is and investments a not They unusual million balance need dollars, our about million, our that this $XX will out equity not don't
charge have investments tax million $X.X of started intend a QX. surrender process in took and the BOLI we that because to million is we item second $XX The
is negative and this since XXXX before and underperforming We actually investments yielding. have BOLI had it
higher By rates. received and surrendering, we a $XX at can over five back market million years reinvest
Page we talk deposit believe have about to the We Southeast. strongest core and of X go one the deposits. bases Let's in
As we betas rising our are shrunk quarter. of increasing. are deposit deposit rates increase. price in and I our mentioned, impact And the seeing we the The also for competition seeing rapidly is deposit
detail in cumulative deposit beta to rates both due from for our DDA quarter. X% various Page accounts. we in this overarching to to balance some biggest a XX, average cumulative customers, due Our trend we The types trends. the was mix account provide this last cycle commercial in our quarter higher XX% decline account on in increase this of expect change future And On and deposit to specifically CDs. moved our greater towards quarters, a
movements as of accounts our make to also make move to bond our in distributions, sometimes markets While institutional treasury number payments, accounts make seeing some well. we're funds. We're businesses business increased, CDs purchases, tax or seeing money
On Page contributor in growth the biggest after with fairly growth mortgage the strong being XX, experienced quarter that. we diversified loan and
we liquidity our to capital. in balance and feel good is about Page where XX, sheet Moving terms of
like deposit did quarter liquidity standpoint. to where our positioning increase Our XX% below ratio still from we have running this We're been quarter. historically from to XX% loan last and a
on Page capital We XX. more talk about
with pro still We're ratio capital using peers ratios. We peers first in and above acquisition. our to Progress our forma expect are quarter for the in the TCE be acquisition. But risk the above based capital in we
from rates. of impact, and also lag also We mix XX, of to net quarters net we which quarter, products margin. we margin past now cost the and shrinking impact quarters. the in the one XX mix pricing lower higher it we what interest portfolio basis to had continue. this our and Page Moving other impact moving a basis expansion in deposit of interest I point we to the than low in few from funding came benefit CDs basis up. catch points came change the discuss yielding had higher of negative XX the the from change, points has this positive this mentioned change point mix and been is quarter, have from which one positive DDA continues securities past And away higher us towards In is But loans have expect basis cost
competitive, believe funding impact the environment five up net points our the margin into is five and the I interest points, coming QX between do including While numbers. somewhere is basis down of Progress basis
margin unclear a or quarter it's peak bit in it So was whether whether QX. the be will in this
Page $X.X equity unrealized million were Moving compared being to Fees the main $X.X gains million driver to quarter, in mentioned earlier. XX. the up with last I've
in the large gains, mainly the and occurred those was gains last that due absence the mortgage of to QX, down Excluding MSR income quarter.
for decision was Another in the loans. decrease our SBA sell less reason fees to
had of SBA $XX because $XX sold we the While we in had million originations, past gain on sale periods. strong than just favorable million we less pricing originations, was
loans less. the and sold sheet So on we balance kept more
We expect on sell to first normal quarter, be in quarter the this sales. which backlog will our top first of
typically Just that seasonally first SBA quarter originations. for quarter is keep mind weakest our in the
well had amount write in we losses Finally, a as a small down. of as security the MSR small realized quarter,
XX, by increasing Page our QX to $X.X million. Moving expenses
addition than that $X just the in to the the than listed would say We I less at this, on as million I line the increase communications increase the slide. main in have of also item, look and a drivers that equipment closer run normal there where QX, items the costs rate above in came results lower so call I would and the in. middle the what would of normal a of were QX to after some ongoing be QX
savings to our start after we quarter expect will the conversion. numbers in expense Progress getting million come into share and Lion's QX, course, Of annual $XX.X of cost the in the second
were credit On that categories driver a outflows mention relationship, in inflows our the and about Page special And but were talk at are with quality, quarter were acknowledge Q&A. being we NPAs low, a moved with Rob there C&I we our about we net in, some along slightly we moving some that moved But feel to but normalization where biggest our the expect basis that and higher. substandard XX, good XX charge-offs credit the normalize. in to period stable. points, fairly talk Navitas credit, about can All we remained expecting. into accruing higher
On reserve built in reserve talk about also as our the fourth quarter, Page that we our show build to continue XXXX. and reserve throughout we the XX, we
economic aside from X.XX% which said a tougher feel XXXX loans also or bank pass and provision X.XX% and our quarter, driver into Economic be and from we pre-credit weakening of last similar to the has Moody's is as $XX.X it Baseline the set all we million we liquidity. a prepared the Specifically, All could moving a took be for profitability year, basis as of challenging. of growth that, been are ratios, to well believe losses back quality points allowance is we of the credit our XX landing, to credit ago. we it Lynn. it With the and great about The soft Scenario. that acknowledged for what But and we the more increase whether year something I'll environment a
