income $XX for Good comments with the joining morning, Thank my net of share or us on performance in I'll million per delivered start adjusted you, earnings $X.XX details fourth our for everyone. quarter. diluted We today. Thanks Larry. QX.
by securitization wealth capital a the interest .
Net income revenues, were year of Our managed for tightly expansion, driven record quarter noninterest in was income expenses. along and in by significant significant markets margin net loans November. $X.X This result interest was growth $XX which quarter. net driven with $XXX interest of full expansion, stabilized million increase results combined in strong with income management quarter financial our impact of linked a for million, taxable growth from overpowered million the the executing third margin LIHTC of
was a decrease our X adjusted driven funding deposit our basis quarter on basis from tax fourth end points yield third This by upper quarter by NIM a significant guidance. and of near equivalent in costs. Our the the expanded increase
an also the quarter. in deposit We during average experienced increase noninterest-bearing balances
We meaningfully NIM funding costs, contributed down to has to drive which our are our with our pleased expansion. ability
the aggressive rates. as recent Early from in given been our beginning benefited reducing interest we deposit increases have 'XX, managing We interest sensitivity. Reserve rate in March rate Federal cycle of those the costs in our hiking most asset began interest
interest historic the resulting to and the shift core reductions recent sensitive mix in deposit interest to benefiting our shifted balance in sheet due continued, portfolio, the liability rates. increases of As our from we rate are now
We early costs the as deposit benefits betas in this strong cycle. deposit are cutting experiencing manage of we our rate current actively
interest curve. benefiting future our to sensitive, steepening a on while loan also repricing yield from remains positioning rate under capitalize balance Looking cuts, forward, sheet liability us continued
quarter risk. our derivative the the headwinds some expect interest instruments XXXX. in we caps However, manage related of expiration rate rate of interest first We utilize various certain to to
first the points net basis our impact their years, few by an these adjusted have We points. to quarter. caps we the interest quarter static project our our basis of be XXXX. to growing range expected to NIM past and expect benefited the reduce X for increase Despite in will X this first the continue the offset NIM over us quarter this, is Although expiration TUI in margin of from first in
strong on our million fee demand our support for Our sustainability revenue quarter, lending swap of million affordable of noninterest which strong capital for to and gain million income The supported markets continues by fourth housing securitization. $XX a the $XX consistently was included fourth revenue. $X.X continued the LIHTC LIHTC
Our in business pipeline remains robust. this
expect we next markets capital the swap to our $XX the million. XX $XX revenue result, from million range for to As months of a in be fees
the of business Management in annualized Wealth revenue from increase quarter. Our quarter, generated $X fourth the a million XX% third
skilled proposition team of with by we have Wealth reliable This our advisers, XXXX, by driven driven assets provided is a partners. in our and grown growth key our by strong by share. the market referral client have we base expansion trusted under clients our as personalized cultivated and performance legal relationships Our market $X professionals highly and network the the Management billion management value increase of of
the on provides. and We given reliable are it focused this revenue business recurring growing stream
a we to notional during the decline ratios or the rates. interest adverse $XXX from These strategy a significant are capital with last reflected gains a quarter, losses as These of marked in value long-term protect company's the derivatives each item. noncore structured executed in derivatives market third quarter effects income derivative quarter. As noninterest regulatory discussed a to with million and we are recorded of
the a will increase the loss, to a ratios. in reduction will will gain or rates record risk derivative increase, is premium. this that upfront in way the offset regulatory capital interest rates our reflect decline, market ratios. prudent a protect a an our capital regulatory long-term the as to long-term which interest or value capped value If we at view help market We If we
quarter. loss we of the long-term million these a on rates For the quarter, recorded in derivatives to $X increase the prior interest fourth from due
$X.X a the securitizations increase rate as our gain was trading loss this our floating offsetting rates of retained increased. million booked or partially value and long-term of Additionally, securities interest in the the from BPs
expense which quarterly rewards our after turning the and strongest we highly rewarded. Now totaled for quarter structure quarterly due shareholders compensation from incentivized to static Noninterest record year, our was the Having year fourth $XX.X experienced the expenses. compensation achieved this quarter million, previous to of are higher quarter. the Consequently, strong our results. results employees full our our incentive-based very
XX.X% processing in and improvement remain and Professional $X noninterest that This core meaningful our to these investments year. model. operating or the technology expenses. our prior Despite remain top-tier our million year decreasing with to for controlled, full core banking to and conversion-related community increased related X% our underpins automation a quarter, data in from expenses year includes on core adjusted system managing during increases, focused the by in the operations efficiency digital ratio our our well expenses team multi-charter effectively fees transformation. investments strategic supporting We along due
in to we with XXX $XX $XX model. of rate expect of a million, our be noninterest growth first our forward expenses of the X%, million quarter to strategic Looking range to aligns XXXX, which the
while in expenses general results. from Over are the continuing in our the transformation to in X drive our investments that in our primarily performance. past The years, exceptional bottom line record consistently invest increase this significant XXXX delivered has approach people digital
fourth balance range or securitized $XXX the held during the X% year, million our X% of annualized our to prior $XXX from the at that Moving Loans million sheet. for million the of upper year $XXX end our Including guidance total or which loans loans of to grew XX% were by the investment XX%. was during grew quarter.
our Our funding generation, Through swap our within success we LIHTC long-term revenue reduce the concentration revenue liquidity, and of and our portfolio substantial capital markets ensure ongoing limits. continued of business cost, strategy internal supports our improve the the it create securitization sustainability TCE our of LIHTC securitization strengthen drives. loans, our remains LIHTC
our execution administrative improved due financial leading securitizations to transaction has Since better began in to XXXX, our and results costs. initial reduced
planning securitization to the part a ahead LIHTC Looking latter we to the tax-exempt single execute in are XXXX, of year. loans of stabilized
We size of we securitizations $XXX past the are of consistent over targeting a approximately the average X years. the deal have million, with closed
Total increased $XX annualized million core X% during quarter. deposits or the
total year, reducing X% our from higher cost year, reduces for loan million or sources. deposits And prior funding our liquidity our increased growth, our the outpacing with wholesale $XXX and our loan-to-deposit Deposit on company. For net primary ratio. growth a remains it or focus reliance securitization core have when combined increasing the
at total of deposits Our uninsured uncollateralized quite total low and XX% $X.X billion deposits. remain of
end, quarter Additionally, $X.X which of liquidity. had approximately instantly liquidity billion includes at billion of accessible the company $X available
quality, asset which our strong. remains to Turning
basis the During and total of to loans loans points XX total X.XX% increased quarter, leases. criticized
are the year. from the which we XX criticized basis year, total prior pleased in the is reduction for with down loans However, points
NPAs million $XX points million specific increased or loans. XX by to basis of X assets due the quarter $XX prior to from total
mentioned, low historically from levels. reflective these normalizing issues Larry of As credit environment a are
XX% of are NPAs just comprised of approximately Additionally, relationships. X total our
million of of XX the our mid-January. a recently or our NPA of forma $XX off in Our to million at end reduces pro This $XX on ratio with points outcome assets largest total paid was NPA consistent XXXX. basis basis successful NPAs
as in prior provision We for criticized the to the an was balances. strong recorded held total The $X total increase losses the for increased credit investment provision million from in X.XX% were X.XX% quarter due to the the prior The quarter, allowance from increase quarter. prior Net during of $X of to $X consistent fourth credit during the loan total quarter charge-offs the quarter. losses the for from credit representing million a and growth which primarily increase for quarter. for losses was of million loans
monitor our culture. diligently the credit committed continue business We of of remain and to lines strong all asset to our quality
increased Our earnings, driven XX ratio by in in by end. a to improvement basis tangible The common longer by AOCI equity was rates to points strong assets partially as decrease at increased. quarter tangible offset TCE X.XX%
capital We also quarter. saw a the during nice regulatory improvement in our ratios
Our capital earnings ratio smaller growth points total risk-based quarter by equity increased total by XX end XX XX.XX% basis Tier X in basis XX.XX% points and at to increased a to increase ratio assets. driven strong our common risk-weighted and
focus share, significant we to needs a growing our our the capital, to and maintaining our above increase regulatory book continuously organization. to the we time, committed being into our business our XX% review to CETX growth quality position capital ratio in as by our continue another grew remain Over our per We larger for will value We expand of growth including mindful XX%. our support while peers. continue relative which of capital model We mix saw to $X.XX, tangible annualized representing quarter. on
has financial value TBV our to by commitment compound on years, a our emphasizing X performance grown long-term XX% building and shareholders. annual basis, strong for past our the Over more than
tax effective rate our was X% and our guidance. within quarter Finally, the for
our have Our to our tax-exempt helped shareholders. consistently portfolios loan low liability, tax and bond maintain benefiting
we're let's to and continue to financial open results, first for X% be that the first quarter range for expect full our effective Operator, our rate call on of to ready context We tax our questions. XXXX. fourth added quarter year question. XX% your With in of the the for
