good afternoon. and Bruce Thanks,
lot both and Lynn have continue on of make progress we As Bruce fronts. described, to a
more to try to trends starting color and key some positive comments, ratios. detail several I'll add with some in their So
investment points. deposits margin basis quarter. Loan basis the compared yields X.XX%, XX basis last points by quarter, And to X also is X points the increased during increased interest costs net equivalent XX on First and from points a last up increased basis on which interest borrowings tax basis yields quarter. increased to
to interest the compared purchase of the net margin in quarter, basis accounting includes XX points accretion XX basis points This quarter. prior
Heartland's ratio XX% shape. assets, of X.X% at borrowings our cash assets, investments just was flow million of in great about and With short-term position million month and liquidity per of generating or of other loan-to-deposit total over $XXX XX%. Second, $XX only remains
points basis XXX Next, last the over from efficiency ratio quarter, XX.X% for the quarter. was down
ratio XXX Excluding M&A-related next XX.X% basis efficiency than XXX have right basis at reported. lower which down compared the will below Year-to-date, we or been last quarter costs, well is the would for to points year, expect XX% is and XX%, ratio the quarter. ratio remain the
quarter Lastly, basis this points was points, the in tangible to X.X%. the XX added which value increased offset the earnings ratio investments XX X Retained by derivatives, reduction basis equity and by market of points. basis common our reduced partially ratio which
We be expect on the year-end. commented approaching Bruce ratio deposits. has mark X% and loans will by already this
So will balance couple items. a of only I sheet comment other on
portfolio equivalent $X increased $XX the tax remained for million quarter. over just The quarter about yield to available-for-sale investment maturity years. on at at declined million to portfolio available-for-sale the ended billion. investments the $X.X total X the portfolio the investments X.XX%, and The duration held First, increased during while
for allowance the the loan point for basis to Second, percentage as increased loans a of quarter losses, X.XX% which of loans. X
loans PCI X.X%. are under of previous billion quarters, recent valuation - acquisitions reserves, just totaling million in most by or mentioned from and As $XX.X $X.X frequent our covered about
an of Excluding quarter. than allowance X XXXX, would X.XX% as XX, last September ratio basis loans from total of these in points lower result which loans is loans to
which million, increase increased quarter $X.X Heartland's million loans sales on flat added compared the were XXX,XXX income the quarter. X relatively of XX the a a last income statement. million in by XXX,XXX PrimeWest which quarter, in operation. & driven of FirstBank gain Moving million Service was another up offset $X.X million legacy interest is day FirstBank added compared income from interest quarter, quarter, by up Trust. quarter. All $X.X quarter last of quarter. prior million million $X.X income area Mortgage, up were up net $XX.X other quarter, The When about in the income full to million reduction mortgage from was Trust. to $X.X the by with full result Net additional primarily from the this totaled full for - noninterest over last of from Noninterest to the quarter categories a quarter, & charges totaled $X.X last $XXX.X was
expense to $XX.X increase million Moving this was an over of on noninterest expense. last Total the million quarter. noninterest $XX.X quarter,
million or quarter, in Core and The $X.X This core or and million. increase approximately $X losses $XX were was costs $X.X which excluding last million that full increase. run M&A quarter, rate compared M&A costs, quarter. system FirstBank cost to to costs core asset gains of Trust, $X.X quarter of approximately compared million by is conversion cost a last & result million increased a is million $XX related
turn rate other $X.X and FirstBank fees that fourth By increase from continue benefits single increase $X & operation. normal a travel bases. the slightly fee the into Excluding which in annualized and benefit And both in corporate previously high XXX,XXX Lynn. mortgage the or income, quarter. security digit related acquired excluding by Trust that rates losses, credit commissions core a most in is as with this XXXX. rate full seasonal outlook higher credit. well attributed legacy call quarter. restructuring conversion-related expect return category, tax XXX,XXX were increase, Trust, were and minus significant M&A difficult lower fees of excluding to production the deposit current to is & company-wide quarter. $XX accretion More category, show quarter offset newly Net and next interest a we specifically, In million, origination margin to XX% the this is forward. X.X% legacy of rest costs, last but that the and been and on is to solar to to a FirstBank Starting is tax quarter to remain were this salary tax to reflecting remaining flat & the accruals as XX.XX% to and continued credit pricing. this equivalent our is for professional Professional with going and our tax basis the FirstBank $X.X plan with I'll down declined my have quarter, healthcare mid Core loan single Trust. is to salary began $X.X $X.X remaining and be losses, normalized accrual, million next was by effective quarter XX.XX% investment this range is an of The a our attributable sell attributable pressure to finally, card Heartland the basis. complete comments, quarter. of I'll XXX,XXX XXX,XXX of full outsourcing operation. should other purchase which which million. quickly up low quarter to and for changes an retooling process, is - accounting the a quarter And reduction in to full losses compared asset or Mortgage range solar for growth, legacy XX% on other primarily that, believe reasonable predict, expected expenses million. as in increases gains of quarter, mortgage mortgage compared the salaries, digits up run million for core loan expected million quarter To a decreased volatile annualized in to last to increase a has legacy and we benefits, and the for of strong summarize And costs decline continuing slow finally, the expected should The tax the percentage deposit for growth relatively a expenses. and attributable to the the $XX to of expected of as Provision lower included benefit be some mortgage reported self-insurance We quarter to gains as X.XX% on per tax the mentioned plus and over was customer million, costs to expenses,
