Steve. Thanks
by corporate in a in with XXX margin. seeing basis the interest weakness loans of by on tax X Most in in from tax-exempt in the expenses and in as from revenue reserves reversed down quarter the driven interest loss of was to impacted margin fourth our credit net first offerings no pre-funding revenue impact which revenue result on and was signs standpoint quarter decrease up and fourth and We netting municipal retail noted $X began quarter. largely are million compared past this the first these loan Tax of institutional the The brokerage year's securities. net The due we and to and non-accrual commissions in-line last This Slide were to the million income approximately the revenue was quarter rule, sequentially advance we’ve modest reduction banking revenue of Brokerage problem interest both certain customers X.X%, loan part Note, and lower school, discussed that we million, X, compared of fees year-over-year. last our on also in as change, The loan communication with in with investment quarter a and the basis issuance. sequential declines in in card the and to data first for to implementation X, the many completed flat XXXX. relatively the the transaction year-over-year expectations. meaningful line guidance. basis public On balances. debt $XXX.X sequential potential recognition decrease was accordance district due Slide new quarter first quarter rates X.XX%, was Law tax guidance interest equivalent As trading net growth in X in from and hedging, and large quarter, of margin points of was for processing negatively of quarters. which of decrease prohibits a and fiduciary net our trading, points
was compared negative first before fiduciary quarter the brokerage X.X% by contract cancellation to other due XXXX, one administration, revenue growth management was was asset lapsed higher up to and in-turn count. X.X% We half X.X% the higher of and strong the management was growth of and the Transaction banking increase continued due sequentially we of volumes, up half customer markets, in a more to transaction and quarter revenue the driven equity in implementation up revenue year-over-year. card XX.X%, to comparables an business. retail have which Mortgage business overall the under year-over-year due in strong assets payment rule. with was but Fiduciary
to channel, fourth we’ve flat relatively noted up on well from better online shift While higher changes our our to from current internal in rate environment, and servicing to monetize earnings values the as as rights mortgage were direct sale due X.XX% our channel as the to high page mix pipelines. made our to manage originated production to on of This a release. XX was production was X.XX% substantially volume quarter, margins compared gain
expenses carefully in to continue decrease The Turning by $XX manage operating earnings two leverage. deliver sequential largely million expenses was factors. Slide X, driven we operating to to
complete offset cost, we into noted was First, in these customer we And first Slide also lower that turn was return last first the government helped more mortgage the guidance XXXX. backed the variances rates by IT OREO quarter. by of for expense lower loans. than the were driven which balance spending an and write-down quarter $X banking expected. on-balance-sheet declining were second, of as our and XX property of certain in by Note facing to in XXXX has current fourth on delinquency million. quarters compensation projects positive incentive partially levels of spending levels lower this to normalized quarter accelerated Expenses call,
We expect mid-single-digit loan growth.
real subsiding, The much paydown in and with out strength expected pretty healthcare. we continued estate first and energy quarter accelerating, the from as commercial headwinds played C&I
If be we were the our in forecast half at fund. the of real in booked range the towards the meaning commitments between in when first high-end begin you take year estate range low we energy, half quarter build we of mid-single-digit to should end the that of that second healthcare and in the and and X% as as something the then X% first commercial
the flat We were down expect first be they slightly available to to sale quarter. in for securities as
management hikes XXXX. June two We were additional that expect control in September forecast, deposit originally continued hikes margin rate anticipating embedded growth we and Note interest with in of in modest continued rate two our and within net pricing. active assuming
Now will internal a consensus so will June three, is see we’ve hike have our we that – we to added forecast.
We reflecting net the combined growth. with expect interest loan revenue mid-single-digit growth hikes additional rate
full low single that revenue be from that up change. revenue to was $XX moved low-single-digit generating after operating year amount of expect million the we approximately And digits the for for contract quarter. [ph] expenses businesses the Note fee and XXXX expect XXXX billion $XX growth adjusting We year. the was million GAAP processing to per data for expense accounting was $X.XX or expense
the As XXXX. loan the of our environment towards additional loss noted, loan current given half reserves and first the are biased of credit releases we to of portfolio quality
Bagwell XX% loan federal in will state XXXX. the are forecasting tax in Stacy a blended the call Norm review Stacy. now XX% effective I’ll range portfolio turn detail. to rate We Kymes for over and more the and to
