and In quarter. XXXX, issued you, million share XX.X% $XX.X today, same income our per increase the to compared of quarter quarter of the third release net for we press of $XX.X quarter conference reported year. call. Thank or third earlier an David million to Diluted were welcome earnings last the $X.XX for our earnings
in $X.X were $X.X quarter million and of net $XXX,XXX. Included We of the earnings program of non-core branch retirement had merger-related early after-tax in cost items. expenses $XXX,XXX costs third million, right-sizing
and earnings respectively the $X.XX of same $XX items, impact were per $XX.X of for quarter last the the the over third these $X.XX, million earnings core share and Company's Excluding million quarter core were increases year. diluted
mention gains along to among charitable quarter. expense as items we've again and losses so results. merger-related such costs that done provision our in inclusion like contributions would things, and been branch with I our from the this of, securities We've right-sizing results, expenses other core consistent core with excluding and while
However, that notable worth results discussion. our never events quarter impacted this and several additional experienced further we
a result September participant the of bankruptcy of became sale credit a with earlier its as court proceed. Bank a of White Bank year proceedings Simmons record, XXX public is through and this SNB, Star the XXXX subject Star shared Star as White was in White LLC. First, on Section authorized bankruptcy merger Petroleum, to national XX, assets
$XX.X quarter was net the on the national Based of in the the million. our proceeds credit third bankruptcy million. was sale, shared $XX.X loss recognized from Our pending portion anticipated
historical consistent of As an ratios. a a made the to we result the level with special provision of $XX loss, allowance increased million our appropriate
fund pre-tax. sale of stock. the our It's sale Simmons was The Class of intention Foundation the common Visa on the gain quarter, we our million shares part sale to the of B the the from Visa proceeds recorded First during $XX.X the Second, of been with stock. our
the advance over an million We contributed $X previously for on foundation that have as commitment.
over This XXXX. quarter, foundation we contributed another its contribution our $XX total to in inception since million for million $X the bring
previously CRE portfolio loans. efforts our by our to we've selling Third, reduce non-relationship mentioned some
the During loans Included portfolios and Southwest Bank $XXX of loans the SNB, from $XX the the Heartland and acquired primarily was sold to Bank. Bank and we balance loan quarter, including $X.X loss, the sales million Reliance million recognized million fleets. of from million portfolio in Bank $XX classified
more loan net to income Star these of notable after-tax million an quarter. is of effect net on speak items In the later. increase White summary, the the I'll $XX.X for
at Our were September XX. billion $XX.X total assets
for while X.XX%, on average return on return was was assets Our average core the assets third X.XX%. quarter
ratio efficiency XX.X%. was Our
the loan balance $XXX $XXX.X were at estate decrease $XX from We last was reducing end our quarter in million of of real by successful million. a the billion, Our portfolio quarter.
second to the loans $XXX end Our pipeline projected to the the million the XXXX. and at the the as $XXX of loan pipeline, of at rate approved ready define which of end X.XX%. we quarter The is weighted close, average million in compared of quarter, loans was
was basis, billion of XXXX. and quarter XXX% was of XX compared year-end development September was construction from Total loans consolidated of were loans XXX%, to the our an at end the last deposits a CRE at On $X.X concentration $XX.X and billion, increase of the flat concentration and our which quarter.
were while same up the deposits time $XXX our down deposits Our were non-time amount. million,
credit Our XX% down was interest yield $X.X net $XXX.X for mark loans and quarter. interest million. million of or Of on interest was mark this acquired income $XX.X accretion or million is $X.X income related related. was the which recognized Included last the amount, million, from XX%, $X.X was in accretable quarter million
the third for margin, XX. to net June which X.XX% previous X.XX%, Company's quarter all margin for for X.XX% interest The at compared core X.XX% interest was net quarter was compared to XXXX, Our accretion, of excludes quarter. the the
interest between mark to ability which points loan the of point preceded points accretion. margin in deposit interest manage of net to in net XX credit our rate XX portfolio XX rate repricing, margin. interest core GAAP basis and contributed accretion decreased The the decrease The our and basis included mark difference variable basis
increase million, compared was discussed. approximately last sale on the the an gain the the previously Our was of mainly increase non-interest million the period of income for stock Visa result This year. of same $XX.X $XX quarter to
gain sale we plan and recorded bonds portfolio. of of $XX of a million funding the of million addition, on $X.X part wholesale securities the the of In rebalance to related approximately sale to reduce as
million, an had compared income mortgage of in also the We year. to in $X prior period same increase lending
which $XXX.X of compared $X.X increase First last expense $XXX million earlier. non-interest donation this to of third year. the quarter an million, was Non-interest same expense quarter XXXX. million, Simmons Foundation over for for represented the the increase an related when to the of Core quarter third was mentioned million, million quarter $X.X was increase $X the
had in increases also areas We operating related several to incremental Bank. Reliance recent our of acquisition
year, approximately same next-generation the we period technology to discussed. prior $X.X related and technology million increased costs banking that initiative in over the Software our have previously
Our quarter third to incremental IT primarily initiative. the were expenditures during this related
am successfully our done. report to investment. Major change see that beginning we we're the migration core with accomplished the quarter to pleased real when of milestone third during completed I associated was our NGB This was The have the increased of and the systems. single banking we our reliability platform environment. largest the has our to ever and very seamless security successful vendor-hosted transition was conversion
app. had new mobile we on extremely addition, of successful an our XX, banking launch In October
banking customer by app has our as phenomenal in Our the a rating competitor makes new from users. X.X us and response been mobile formidable star evidenced
customer We will to channel. digital expand continue our offerings through
acquired $XXX allowance million coverage At for an was of the loans loan. Loan million, for $XX.X total was million. $XX allowance September additional with for XX, loan $XXX,XXX legacy discount mark losses a
the sale. of loans the At third other $XX.X in $XX.X quarter, quarter. million non-performing primarily end second and assets, include increase million million, the million in held up non-performing assets an $X.X were closed from is bank non-performing which made of branches $X.X balance This million for of $XX
were points for only annualized culture embarrassing our net act third White ability million. access in to credit, both and information. charge-offs XX provision we Because and loans Our to loss contrary for to the we Star here $XX the unilaterally limited in to quarter and at participant is in credit Simmons. were the The basis the total loss were was loan year-to-date timely a our
valuable lessons experience. some this learned We've from
the any loan of bank-wide our loan participations total limits on whole energy also single the a on to borrower are committee. approved We All be bank-wide have any authority and by must approval loan committee. evaluating changed And data. we
the We syndicated Simmons energy million will syndicated credits. in is work bank. exit which lead purchased Currently, to $XXX all not energy have we loans in
at XXXX. expect the quarter least million $XXX of second by credits exit to these of We
things while reserved classified acquired in we have obviously a portfolio. for of totaling loans includes currently portfolio have are our credits We've from Both energy non-accrual. as accordingly. Our XX, for done two loans $XX.X all all dive million, we're change, deep and are XXXX book September accounted the them energy Bank and SNB which recently confident credits, can
In summary, balances million in of X.XX% energy of total portfolio. we our loan or have credits $XXX
have $XX Bank XXXX, all During control. booked which are in new million we commitments, of Simmons
energy service portfolio X% no booked is and have of loans second the is additional upstream since We XX% energy quarter. the related. only
the with In the relationships on White loss I'd future, but we only I a impact this company Star bank incentive for impact with manageable. we XX deep And make also substantial itself, that energy expect also Simmons. compensation be to plans it's mention not executives. under payable inappropriately banking should like loans the losses will the customers emphasize that the over have
Our capital position remains very strong.
was September of $X.X stockholders' As common XX billion. equity
was increase the share common our at from value per tangible share assets tangible XX. X.X% last was of was to year, September $XX.XX, book period. Ratio an per of book an increase of value $XX.XX, tangible while XX.X% from equity same Our XX.X%
risk-based leverage X.X%. capital ratio total our while was X ratio XX.X%, was Tier Our
we today, work the credit In allowance that on approximately increase over to-date, XXX% XXX% adoption shared release, for current in on our to the standard. that loan as loss. ACL projection Based initial press occur increase estimate by June the XX, will based XXXX allowance of new our accounting will expected losses we the earlier completed for
total considered, to will XX, increase by However, when over discounts coverage purchase our ratio. ACL XX% June the XX% are XXXX credit
and is our the increase as within The time, to an with driven risk is the new in portfolio. standard increase projection economic include Landrum Company. This simply not modeled of does in point fairly used estimate impact approaches in and a estimated merger within pending stable perceived due under conditions by The modeling, not changes the
methodology will economic to upon assumptions at conditions change. subject of We our refine to of the in be composition factors the and our time will among will be levels other continue that future based adjustment that any and forecast to reserve portfolio
legacy the we double The loan portfolio. approvals with While accounting season, a item to the look expense away. changes explaining can do shift representing to related entire still total the line will allowance we single some go loan provision and expect the to from forward significant related current or acquired require
excited an states we're October this We're result in announce first Company target previously on the quarter announced as XX during The to market about several of expanded that system expected XXXX. still on really with of We're complete the acquisition with excited a merger. conversion Landrum presence our to
week, to increase shareholder We a $XX Last new market program to mechanism this forward as using as up value. our look buyback Board method conditions stock warrant to million. approved a
plus Over five the partners. new years, we've banking acquired XX past
During we've new associates, certainly new markets. processes, products, that services, and period, adopted
the and make longer-term our our will with organization we strategy. Over months, consistent next new few evaluate adjustments
Simmons will we states investing We build communities. continue in throughout those the serve the by brand to
our examine of and will services. lineup We products
and loan We will our view of deposit portfolios. the makeup
of optimization We physical the will plan locations. for our
We will our make the and digital sure efforts will and we to we offerings to we in efficiencies increase work customers from achieved current investment technology. future expect our our behind
and strategic Bank. market will be our and activity our regarding be additional current newest to share M&A expectations scale prioritized with to Landmark will our footprint Future in partnership similar provide
come This take please We'll our operator call the questions. I'll instructions and and concludes on from institutional our review analysts the the questions and back for the line ask investors. prepared open comments. now research to
