morning everyone. and good Kevin Thanks,
As I XXXX period through with walk I'll our noted, with income statement. all begin prior unless second otherwise our quarter of financials of the be and comparisons the will
decreased a previously Our as a points flat the to reported basis interest third income essentially $X.X accretion of margin income X.XX% quarter. net On in $X.X quarter. of and net this was a in in primarily interest the recoveries million XX basis, our decline interest with decline prior off a million charged quarter, result
points loan decreased X our Excluding operating net quarter accretion interest interest this margin and the basis X.X%. impact of to recoveries
overnight remaining had to excess quarter dilutive rate the The net points The Fed cut. was interest liquidity, impact X we to due of in basis point basis the an the decline funding our with margin. X primarily
impact we of saw accretion, the loan of result point offset in lower a cuts, was funding recoveries a interest costs. decline and operating our As exclude X which which the partially basis by yields,
points. XX of Our quarter declined cost in funds the basis total points X to basis
Fed decline As we in third our to saw cost cuts rate through our interest-bearing steady the liabilities depositors, quarter. throughout passed we of the a
in XX July, higher-yielding mid-September, to and of on in from see investments heading reinvesting September. be interest-bearing basis basis continue this fourth to Since in the to total operating our with adjustment And need decreasing pressure mitigated. and loan, points was or a largest benefit margin focus our down Our August should rate liabilities interest into the in excess on the net we XX cost should points points liquidity XX quarter. we basis
income. increase to an due quarter. as banking $X.X $XX.X with other major our of The areas entirely revenue quarter-over-quarter consistent million the Mortgage banking $XX.X was XX% Moving million increase to to fee-generating saw million relatively increased or almost prior million. We the from were to revenue non-interest higher quarter. $X.X prior mortgage
to due that discussed, our approximately up this by activity in which income normal fee-generating the factors see the areas refinance our lower we seeing XX% interest of Kevin $X.X that we're decline production In XX% was second offset to line of increased Refinancing from increased quarter. quarter, third to in other the rates. million, was increase The partially due total fluctuations item. in in addition in to
$X.X non-interest total this expense. in quarter. expenses to Moving incurred We acquisition-related million
acquisition-related lower with expense. health tax Excluding Directors payroll than million employee expenses expense total expense, million insurance The $XX.X decline prior and costs at our lower benefits came compensation to or the the expense, $X.X driver due in primary lower stock of non-interest lower quarter. lower
million second our were year. we see $X.X this confident that half We this fairly sometime this in assessment also quarter. from of reduced the FDIC the XXXX, recognized Heading benefit credit into a we'd expense
will but be credit the determined We $X.X million to the expect by in to FDIC. have another recognized timing be
still uncertain is this at when will point. So occur this
were the to the investments other savings expense seen prior able areas in continued by offset recent We two our we're as the keep major relatively the consistent were from our acquisitions. making quarter with business we've
of the there be schedule in As quarter. decline Kevin realizing any meaningful these of most in so expenses in indicated ahead cost we're savings fourth won't
quarter be around in acquisition right to related expenses, which the fourth Excluding expect operating we us, expenses be behind $XX million. should
the to balance sheet. Moving
loans with construction commercial to This growth million commercial was payoff $XX the the $XX Our the decline our million from in by in syndicated credit portfolio. prior which $XX was increased attributable million coming partially quarter portfolio. end the early the a portfolio, of in offset national of total strongest
deposits X.X% or end from of the the Our increased million total $XXX quarter. prior
than growth and deposits. All which in came in bearing deposits, more of decline the a time non-interest offset savings
we a X% even stronger deposits, growth As which result, were quarter. up core total had the in in
Looking was at of commercial addition was saw to loans. due million. in This estate partially the property. offset loans, the in real bump disposition This asset non-accrual two assets small of increase of we $X.X by quality, other driven by non-performing an a
basis As asset Outside the at we of category nonperforming of non-performing of our portfolio. the rest in stability were a total saw assets points. percentage unchanged the assets, XX
point basis $X.X loans Our quarter points We annualized million, criticized but last we net down X of $X.X had the an total from of at the a of basis million at consistent basis, had or end loans of on was average X.X% charge-offs X remained increased which million the quarter. $X.X quarter. during loans
million $X.X expense portfolio. that migrate recorded the approximately more of over expense, We which acquired to our and net originated continues accounted provision of provision covered charge-offs. The be related our portion to to this A our for $X.X million than portfolios in provision loans quarter. these expense against reserves the refinance
was XX of from loan loans unchanged while coverage the of points XXX%. for losses allowance non-performing end total was quarter basis prior loans Our of at the our
As you X.XX% I'll know, Kevin? loans. but the with acquired of over back consideration the call represents turn loan Kevin. the to of into allowance portfolios the the ones remaining that, does allowance with expired discount the on not combination total And take
