everyone. Thanks, Kevin, and good morning,
income all unless XXXX. of results, As period statement. begin otherwise will with noted, through our the financial be comparisons I'll prior of our the second walk I quarter with
increase was our $X.X in million This accounting by a partially earning our total of accretion increase the the Our average $XXX,XXX as on in cost net increase outpaced funds. quarter-over-quarter. purchase interest yield assets in offset by income by decreased was
reported the the than decrease from significantly basis prior Our was This we less point quarter. interest decrease margin is points second a XX quarter. basis X.XX%, X saw of net in the
Our by our earning basis is prior also quarter quarter X%. rate in the stable from margin the than From decreased results. in stable lower accretion, our here, remain is reported last to expected X the net third modestly purchase margin we to quarter also accounting points slightly interest adjusted assets exit relatively This excluding expected. to lower quarter fourth as to with
in lead interest to in decline income We fourth to a expect this, quarter. the net in turn, modest
noninterest quarter-over-quarter $X.X service we million total businesses. mortgage the decreased payment income Our in and as face pressure
to run rate. similar to fourth our be the quarter, in We generally noninterest reflecting expect third quarter levels fee income core
While to process continued mortgage us with the and in allows mortgage pressure we environment, volume restructured origination business profitability. newly expect efficiently improved more our
demand we while now the remains environment near So demand term, as minimal more can the in increasing to respond profitably. improves,
This we declined expense quarter. We severance expense. Moving lower from due million expenses of was a from similar the in quarter, level quarter a to declined the wages and Reported in noted mortgage the total prior lower period. to expenses accrual. $X.X noninterest incentive as anticipate the prior generally and the fourth salaries in business the expenses
balance end for Moving from to Loans million sheet. investment held decreased the of the the quarter. prior $XX by
the quarter $XXX under about a unrealized from just approximately the X.X%. prior at a from Our normal quarter. with decline losses. million by securities at million a average million construction $XXX due the impact of the quarter to weighted modest of in higher The portfolio amortization $XXX outstanding third commercial lines rate declined represents This totaled end
side, short-term total mix our in $XXX liability the increase million a our an the underscore On $XXX of and noninterest-bearing moderation deposits. reduction in of out of of deposits stability of shift a million, developments X balance borrowings sheet,
on reiterate the balance broker me sheet. have deposits no that we Let
past. the the keeping in million Moving as credit to us arise Nonperforming quarter. of asset quality. our decreased principle This by is by addressing matters loans in as $XX seen prior decreased assets from and with $X.X million you've they do criticized
exposure have well. office and is limited to continue estate performing in remaining real commercial portfolio metro We the
de and participate not by to credits for and in exposure of As credits that national syndicated market. have minimis, do a minimis we mean we I de $X X a total note, million,
While our basis expense loans loans. the at provision X allowance of held minimal $X.X essentially to or total charge-offs X point credit quarter for losses were total million X. X.XX% points in average just was was investment, Net up our of basis for
coverage increased Our to loans nonaccrual in of rate this period. XXX%
pleased position and manage capital offset dividend our risk-weighted continue regulatory quarter value all our per announce retained we Finally, AOCI as $X.XX share. earnings. to we declined third Tangible ratios expanded in exposure, as strengthened the asset were the and book to slightly
the of the advantage the remain customers to our dedicated opportunities new market Going to take households forward, serving flexibility gives to strong capital and of us our needs to attracting bank. position and
Kevin? Kevin. Now with it turn I'll over back that, to
