and Kevin everyone. good morning Thanks
our X.XX% financial in on Fed net unless I’ll eight assets earning of the points walk accretion, our our basis impact statement all of in loan in increase through the interest the of will great rate, I basis the net XX and quarter comparisons interest our increased than increase As cost our of interest reported funds results, seeing With begin to noted, and each net income XXXX. prior the we’re margin margin funds. period interest with with points operating margin. otherwise our basis, quarter, increased our a charged-off yield a X.XX%. first be to second excluding On in
basis During our of while the points. funds second just increased earning cost quarter, XX assets four yield increased on our basis points,
net less which also margin interest $XXX,XXX last last $X.X this quarter. this was million benefited Early Included was Total in amount net Our payoffs slight charged-off accretion in as from ratio $X.X quarter, $XXX,XXX last the in quarter increase accretion our acquired income than income quarter. quarter. was the $X.X on interest compared to of interest loan-to-deposit portfolios same this income the million, quarter. million a quarter, contributed to
While quarter. $X.X the in in that income, our accretion anticipate early will and to contribute third of volatility we will quarter $X.X million payoffs accretion in about the scheduled million the fourth unpredictability continue cause
maintaining deposit we’re rates we discussed, our committed to markets. in Kevin As that attractive offer
than we margin However, and we on see in operating earning should to our continue yield in deposit offset be the quarter. third the we increase in in costs more the net interest to that assets, expansion by our believe an expect increase our
quarter-over-quarter Moving fee our to non-interest $XX.X million, increase seasonal million is income, which in to quarter. pickup consistent we the with $X.X the of saw second see an typically businesses we during
card banking credit in increased from higher and revenues XX.X%, mortgage revenue by stream. driven our prior typical seasonality services primarily volume, debit payment Our this while quarter, the revenue the reflecting XX.X% increased
also offset slightly this XX% in year-over-year, primarily of As mortgage XX. the prior Kevin produce from assets revenues XX.X% of is increases and purchase generating down in billion were and revenues due payments areas. earlier, loan growth weak very fee refinance $X.X our in other reached from our quarter. came production to continues our activity and mentioned management, management which The to as Wealth quarter. market steady activity slightly June up They major under decreases results were the
million the Durbin revenue our approximately take that payment this per reduce will effect As third services will us $X.X the in Amendment a reminder, by quarter. anticipate for We quarter.
of acquisition to quarter, prior had we recorded noninterest related million was the total Moving approximately due expenses a $X decline to quarter. expense, we the which from last
benefits. an expense claim non-interest $X primarily increase Excluding to low in normalized million reflects medical increased return employee the quarter. during employee expense, after unusually million, first increase This a in acquisition an to related $X.X of levels by more amount benefits our of due
Bank higher of continues a to line largest The of Additionally, past anticipated. our very the four slightly bringing This benefits of and $XX.X have than range stable. expenses salaries employees be on within from component been to million the the million has each $XX.X resulting item quarters. been of in Cascades wages expenses,
transition quarter. assist our expenses to salary as the approximately efforts hiring was quarter-over-quarter in of employees, implementation a of expense our included result of and with commercial consumer and third processes us this to up continue with parties operating we around CECL. were costs engagement As severance $XXX,XXX improvement there and process Other
to In on down about market. the we of addition, we that put bank $XXX,XXX a had of a related write loss property the
forward than run projected see saw quarter, in next for to in relief, we the we higher rate. slight the Going second range million might to overall while continue $XX the same be is we quarters, our originally our which few non-interest expense expect
than improvement are to made As higher year CECL our I evaluation. expenses process expenses engage are decisions of mentioned, up benefits we and with third-party result originally and as assistance anticipated a initiatives employee this we’ve other
Over the processes. efficiencies new we next year, we as should implement gain these
sheet, balance discussed our trends. on already I’ll deposit at Looking loans, our Kevin move the to so
and April last the attributable tax deposits total year, prior end saw of the from up June million quarter. to to our overall $XX was due from Although outflows end we decreased are in primarily the decline of deposits The payments.
we deposits the month, As into see stronger expect our inflows we to year. seasonally rest of net head the of over
non-performing $XX.X process. continue Turning the quality, an increase problem was our the to to loans move asset workout related of million we increase primarily The assets. migration that of saw previously identified through in to
the puts no during XX% basis losses over which million the was basis. And our ratios. to these coverage our our We basis of were of loans provision points to in the provides a material credits. and loans. total loans, remainder $X.X and $XX Kevin. improvements delinquency of with there average reserves net were loans of charge-offs I’ll back to specific criticized million classified in with $X.X XX $XX million positive, in the in call had status, of loans an loans or that, for along portfolio we non-performing annualized at nonperforming decline We or turn increase the for allowance Kevin. The a XX Although recorded on decline found in loans expense, points million downgraded quarter largely our including trends
