have to Jim's We our were team. you, for by and for say excited about First think our this want deposit efforts begin as deposit early mix, deposit us to our Thank are drive fourth million campaigns, that up deposit the with valuable stability checking generally our franchise. We can growth speak which and we're $XXX.X acquisition. deposits I helped of on I and you on pleased very concentrating in in to selected of Jim, of success objectives in that and all low-cost I saw other following have part in we Interstate the comments quarter. area,
existing more We beta in I'll that on lower a accepted also and some retain order to deposits new discuss and moment. relationships, attract in customers
statement. turn Let's our income to
million reported XXXX. for of fourth per the third the company per $X.XX million the or to $XX.X which For compares net $XX.X share, of quarter, net or share income of quarter $X.XX income
the off during quarter, driven declined reduction a in advantage its representing excess occurring flexibility this. and $X.X after Our borrowed by reduction FHLB FHLB we funds provided a that cut. BTFP represents half borrowing.
At totaled year-end, combination We in That and rate pay average with of of cost funds liabilities lower fourth XXXX billion billion reduction able billion. in of $X the in take fourth our December, a were outstanding other entirety cash the right quarter. interest-bearing advances In of used of by borrowings do the $X to advances the Fed rate to
along comprised of short-term the with mostly remaining advances in quarter, are July. Our $XXX first in million maturing borrowings maturing
basis increased in net interest the X.X%. tax to quarter points XX margin fully equivalent Our
points margin, X.XX%. to Our net interest XX purchase increased excluding basis accounting accretion,
repricing, expectations. pleased are which We with ongoing and this with expansion margin are asset line in our continued
trends sequentially with David these with forward, of will rest along guidance We call. continue declining expect discuss the modestly along to of earning backdrop our in going the this assets. the later
agricultural driven accounting a we the did interest-bearing as believe Fed, fourth in $X.X we the deposit interest.
In our accretion, had nonaccrual by as experience anticipated. nonaccrual by to quarter, the also the response the rates purchase million $X.X betas of results Fed did of to rate higher-than-normal During to included Fourth reduction rates net from loans. lag recoveries reduces quarter million resulting deposit payoff of advantage. competitive approximately the latest ability in lag allow the our creates We recovery
we with asset can rates our our new and the while near existing we medium retain attract the deposit expand we to are can to and in to Given continue which expect flexible be customers. term, repricing margin continue and experiencing
fourth income. of and management last Our businesses income to gain expected third $X.X quarter, a noninterest quarter performed modest we in as fee $X.X roughly million management the includes quarter. property in services totaling on sale the to treasury quarter with generally Similar compared wealth this as increases million
Going forward, arena, card business we management and treasury we where relationships continue and to will existing the in ones emphasize effectively. products, most small deepen garner new can especially
accruals. in normalized will This with increased primarily costs million, expenses quarter. Noninterest costs, quarter which by both that and by earlier, the and and we in the offset our third transition support Jim quarter existing short-term As lead driven with the insurance CEO higher incentive $X.X somewhat by services fourth recognized customers, new the deposits was medical in partially higher goals. mentioned
increased quarter Most we our our Moving reduction. stabilize. balance declined deposit quarter Conversely, to deposits intense driven have $XXX.X million, loan in relationships. that the category drove sheet. loans the particular million. in already I've customers' by fourth on seen fourth by a deposit encouraging, balances focus by more average this $XXX.X mentioned No
an loans, Continued commercial movement real estate loans but financing to did drive of in commercial this increase declined. estate real permanent loans excluding construction movement,
in elevated balances the XX.X%, ratio to at contributed loan-to-deposit as level also charge-offs provision $XX.X loans million. loan to and million, and the in quarter fourth quarter. provision nonperforming as Net Our we totaled and $XX.X of of was ended expense Higher the saw our paydowns the reduction charge-offs well
the to to the partially funded that release credit read through basis attribute C&I quarters.
Total the large C&I provision of this issued you the past off. on the XX quarter we we've specific majority versus charged down been and X.XX%, due in XX, of the at reserve release of reporting ended was to charge-off our on prior can credit applicable few nonperforming the As the that press quarter January provision that points
release, large points of the portfolio. basis on this coverage remainder by the X Excluding increased
noted the quarter, assets the As in of most downgrades in of coming days. the portfolio. resolution of fourth final for real our balance C&I as increase the in We remaining the million commercial continue filed to estate loans, experienced with we X-K, in receiving occurring $XX.X previously anticipate the the criticized in an
in noted of the facility footprint. to provide expectations of initial leasing construction the As presentation, a increase delays. senior loans XX% the activity, represented The living increased following in is $XXX eastern largest the four summary see beginning totaling net property our a albeit part The to over million about specific loans. brief investor behind is of
in Guarantor Arizona is property refinance. second strong working external an been and borrowers absorption towards multifamily than projected. The with a slower has the support
challenged This profitability, the higher loans which increase anticipate the portfolio and third closely credit working were of and in is in the and changes The experiencing our enhance also just they're in with acceptable. is balances the debt. the to part real refinance capital footprint, generally and construction and with working estate And costs, to exploring with provided This the line frequency different eastern of from points are entity has a reviews. contributing The both the Other of us policy is monitoring. criticized back factors undergoing we is senior reflecting included deleverage the facility bank market half one a takeout credit, and larger population is collateral expanding the a additional exposure. the in of of that challenges last the a a company we credit XXXX. touch living but to both process portfolio across mentioned.
They
yield improving credits certain And as our basis In fourth dividend finally, X.X% XX ratios declared charge-offs in exit XXXX. to to a increase. higher are in we provision of and share net quarter or total diligently on in the our with higher quarter we our of as result asset the anticipate fourth quality guidance, ratio see of capital XXXX. working time. a level, dividend total, the points metrics of XX a focused for to Even of $X.XX are you'll per the over continue We payout
common hand to guidance. Our of to the was David? ratio I'll quarter.
And David equity Tier the with call end our that, XX.XX% at the review X capital
