Larry. you, Thank
on loan financial items review with discussion and warranted. I those start strong growth. some quarter additional is our focus our I'll fourth will results, where I As deposit
the was generation in Our annualized loans X.X% real fourth commercial commercial driven and estate loan growth during new was by loan and largely and industrial quarter loans.
was from production driver strong key Group. Specialty our A Finance
municipal particularly opportunities project tax robust and of experience We healthy pipeline credit area this maintain in continue lending and to demand in a finance.
were normalized which the quarter payoffs, of XXXX. We from XXXX with third another the of level relatively down quarter of a of fourth and consistent significantly more also experienced quarter
loan which quarter strong than growth. We deposit net our more funded this had growth very
As you know on in total quarter. success resulted continue focus XX.X% the which to and increase we a deposits strong an during area have we in in deposit this annualized have placed gathering
created of assets. loan it some increase funding the Additionally, of a than as which limiting funding declined has within the growth. in balance liquidity our total third well our and laid for less XX% to in excess the continued deposits sheet assets from wholesale while our in percentage significantly on wholesale XX.X% to the foundation down And strong goal of X.X% short-term, quarter is
to Now, interest margin. net turning
mentioned benefited from are rate to as modestly than at flat a pace the quarter down again benefit the we fourth to have moved balance assets. interest-earning yield on deposit and sensitive. before faster This our costs declined environment moderately our well-positioned we interest is rates in liability us As as our sheet a interest short-term lower
In slightly liquidity, quarter. NIM addition decline our yields core excluding to by funding a as acquisition-related accretion, to our more deposits from funding role costs approach third reducing increasing loans, on in proactive X.XX% our wholesale funding in reducing higher-cost played excess the some by funding was our well partially in in adjusted up and X.XX% resulting as rates on reliance an lower net costs. offset The on overall gathering lower
of in loans last Notably one-time interest forecasted diluted points. and quarter, down decline was previously fourth the by quarter level recoveries our as adjusted of two charged-off the NIM basis we and
this Excluding basis expanded points. NIM actually impact, our core four
rolling in funding deposit off the Looking from which forward, pricing and sheet, benefit we higher-cost costs. impact reductions are well-positioned our to will positively continue funding to balance our
to work due which pressure to loan pricing past on rate the experiencing quarters. over the to should ease continue loan new Additionally in we that discipline maintain decline the in portfolio will two hard been our have help downward our we LIBOR production,
are Finally, to the Therefore further in of NIM core the we given factors basis in will net to in sale two RB&T. quarter. an a four experience margin these we first as result of our a increase pickup interest points guiding of
of $XX.X a came income million solid on to Now, quarter. our RB&T very after the at in which turning noninterest for stripping gain very strong the million out sale the performance, $XX.X
million quarterly swap the it While this results by than million. impressive driven These record result in somewhat third the year mainly fee $XX.X exceeded $XX.X income. strong very of quarter set been was full average have lower the
the this year. core clients where higher The fixed-rate Specialty financing. the income by are fee driven has and the government For of in at swap higher quarter, portion than guaranteed to sale our fee swap from with million our the loans income strong primarily the our on to long-term gain Group we Finance guided production of bringing for came our a been the year total in million, business locking sold bit the quarter, had combined $X.X $XX for
view While year, the sustainable don't the we for quarter and are very pleased results this as in strong rate. run with the a fourth we
variability As in fees will can we've from occur indicated quarter-to-quarter. these significant in the past and
However, and income the full the the this XXXX. strength $XX our visibility, be given we in noninterest anticipate million to for current of and our million year portion $XX markets between
Our Finance enter strong, anticipate pipeline of loans we so solid fees of remains quarter year. we at the Specialty our Group another swap as
range income of fee million expectation the to quarter. be for source the Our first that in $X is current million will this $X
to turning Now, our expenses.
the number items had the linked expenses non-core noninterest quarter a for impacted that Our significant of fourth increase. quarter
disposition of sale recorded RB&T. costs $X.X million the we First, to due of
as million Rockford a goodwill due integration the related of were charge the $X a was million $X.X And Companies result the system processing there Bank. core costs the decision post-acquisition impairment of at completion of market. conversion exit Bates our SFC to finally, the transition and to Second, to
quarter and estate. expenses offset were by costs expenses, Other of than noninterest fourth factors and of were advertising real which the operating that more other impacted lower higher marketing
$X last million line drove recorded on may quarter item OREO we You which higher. that that property, a an recall write-down
quarter and a normalized We have $XX.X of million. during taking data all for fees these fourth account After also noninterest expense factors, reduced been into core had professional quarter. would the the processing more
that improvements first year. we to the of our strong for spending do given is based anticipate efficiency staffing ahead and $XX technology year. keep million in that to and the XXXX our to no a and and we investments pace XX% the leverage, will the million of in will ratio XX% in range level expect increased making be Looking full rate the XXXX, anticipate our of This range operating efficiency on run longer ratio, be have we quarterly in $XX growth. to organic core for that half further RB&T, in with We
be NPAs fourth continues additions Our excellent asset with to to quarter. no quality material in the
Our third loss RB&T in taken provision our overall the quarter to sale. due linked provision loan decreased portfolio an to in primarily non-performing $XXX,XXX quarter strength declined third the and on of loan basis, from our a assets quarter and slightly the held quality non-performing for related
at in impacted is by related The this came to quarter the charge quarter the as for for rate XX.X%. rate sale tax one-time tax. items well deductible effective of Our the goodwill some which significant was as RB&T, not impairment
was including Our the impact XX.X% a the and for year tax full the we stock for XX%, range and to of not expect rate tax XXXX XX% the rate year will in options RSAs. be full beneficial of that
to wrap-up some like the observations RB&T. with comments of my I'd sale regarding
call, XXX a last on in of basis improvement significant margin our and in quarter's in improvement net metrics, mentioned ratio. profitability efficiency As anticipate a of result a well as our a we ROAA, as as meaningful number lift including point the interest sale,
strategic Rockford our tangible ratio existing market perspective, of significantly of improves and capital we and more total it levels ended go-forward to equity the strengthened makes XX.XX%, year with decision great capital sense a capital assets a the a and to transaction profitable the performance. our has as to tangible in redeploy our for and markets, ratio X.XX%. risk-based capital significantly exit up common company our financial the Again, frees From
With Operator, question. your for we call open-up ready first that, the our for let's are questions.
[Operator We will Instructions] The Nathan session. Sandler. question will now come from Piper begin Race first the of question-and-answer
