everyone. Thank Bill, and good you, morning,
been reporting or the periods. This income share per to our statements or As Bill Insurance first due net restatement for periods impact restated for pending mentioned, previous sale on the have of our earnings Holdings. Truist and no quarter has current for historical financial
financial can our expense associated see with financial you tables, shown revenue in our longer and is TIH as statements. no However, on
net and Truist TIH's focus I will also TIH the revenue inclusive provide income share discontinued net on comments purposes. earnings today now will quarter captured from is per contribution revenue detail to in operations. operations, on some and expense expense My income of from although and comparative continuing for for
available negative an of discontinued which sale. $X.XX acceleration represents $XX the pending share of net FDIC of We We impact million reported share, pretax operations per share, compensation $XX special $XX from $X.XX from from TIH, operations, per income TIH earnings $X.XX or which the million million related share a billion reported or assessment. the due net incentive income or includes to available industry-wide at includes $X which pretax or after-tax from per to continuing expense $X.XX per
of basis, operations So available income $X.XX net adjusted net on shareholders per income operations income $X.XX. adjusted an adjusted $X.X share, of and includes we discontinued from from billion common reported $X.XX continuing to which or net of
In the related estate addition to the adjusted we items noted, million bulk also real EPS which in quarter, negatively impacted were share. I The restructuring severance shareholders to and $X.XX pretax common had to charges $XX rationalization. these just by totaling of charges per
banking noninterest operations quarter increased TIH, trading. partially increased Adjusted basis. Total impact decline with income, net increased which X.X%, expenses, with excludes linked investment to linked-quarter before quarter, by revenue, decreased accounting by on TIH, due Revenue the discontinued which Adjusted revenue discontinued expenses led offset by adjusted of income, associated operations in interest X.X% before X% by X.X%. and impact associated a on accounting of a the a linked expense excludes basis. stronger
leases demand demand. a to X.X% XXXX, overall impacted deemphasize and due first reflecting during loans which quarter. on X. C&I due Slide sequentially, loans client activities X.X% cover Average our decrease lending the certain during to decreased balances primarily I'll growth decision weaker client and X.X%, Next, lower commercial in Average to decreased loans mostly
In our due mortgage. reductions consumer X%, to primarily in portfolio, auto average further indirect loans and decreased
than the loans, the our positive expect Overall, increase for decline month modestly appetite auto in average indirect at resulted as second for high-quality balances During albeit showing slower consumer Bill we we to a pace March. in of loan the mentioned, which, quarter, the first balances growth quarter. loan did quarter,
client was decline XX% in fourth to Average represented was to Adjusting deposits in compared our in X.X% of on the quarter market $X.X of average due decreased quarter broker and declined as deposits interest deposits billion time deposits noninterest-bearing to balances. XXXX. decreased declines billion money more Noninterest-bearing approximately checking by X%. and $X.X deposits. trends average for lower linked X.X% deposits, XX% and sequentially broker Moving deposits Approximately total in deposit deposits than brokered the XX. of Slide offset growth
deposit During an the which rate in quarter, drove consumers higher costs. see increase continued to alternatives,
interest-bearing cumulative increase resulted in beta increased costs deposit X% total cumulative points X.XX%, XX also in points costs to interest-bearing deposit of total Similarly, which XX Specifically, our increase beta increased sequentially basis deposit X.XX%, in sequentially a XX%. in to our resulted X% which total deposit XX%. basis to a
interest interest net and margin XX. to net income on Moving Slide
X.X% in to interest X average paid rate Reported linked-quarter interest due assets. income basis primarily the quarter deposits, net points to earning and rate lower decreased higher paid on linked quarter, on by count due day lower equivalent declined deposits. For margin quarter, basis taxable net primarily a the on higher
and to markets. increase much quarter Turning primarily relative income platform, equity Slide $XX linked specific fourth higher to up banking noninterest The strong increased across markets capital is attributable which or M&A results million on in the our of quarter. $XXX Noninterest linked-quarter to and XX. strength trading to income, due entire million with investment was income X.X% capital
$XX fees other X.X% and investment income. linked trading, income quarter gains. mortgage and due Lending-related Noninterest wealth decreased were deposits income like-quarter offset increased leasing-related lower million lower banking and by a on partially as banking charges basis to service higher on
decreased $X.X Slide fourth GAAP our a on expense initiatives. charge, to $X million FDIC billion cost-savings were XX. restructuring negatively charges as related linked special primarily impacted noninterest by cover goodwill quarter $XXX XXXX billion expenses billion expenses I'll $XXX of and million $X.X Next, impairment assessment quarter of a
these Excluding intangible X.X% noninterest the adjusted increased amortization, sequentially. items of expense and impact
expenses, other by incentive factors and increase personnel lower declined offsetting seasonal million, due normal operating adjusted pension personnel higher in expense were variable was The lower expense the increase higher to Partially expense. and expense which driven million charge-offs $XXX of compensation. $XX lower reflecting in
Adjusted impact like-quarter noninterest expenses lower On reflecting increased before X% basis, linked-quarter or discipline. million expenses the operations $XXX accounting adjusted a on X.X%, of and declined expense continued headcount basis. a discontinued
Slide Moving on to asset XX. quality
overall relatively days stable, Asset remained basis quality driven first the manageable. linked metrics down sequentially, decline delinquencies quarter, continued loans normalize loans X XX were points point quarter remain X to basis to by past in total due. Nonperforming a in but XX while
appendix our at our is portfolio, unchanged which on on total is loans. updated of X.X% Included office virtually data
to However, reflect we stress did continued X.X% reserve X.X% sector. from on portfolio to the quarter during our the in increase this
and of loan. size stress believe as of in these balances but X.X% well manageable the that in office but XX% original sector the accordance portfolio remain to terms currently expect the is Approximately reserved. of with portfolio office loan the is of paying are classified nonperforming our our office We
to consumer in increase our XX CRE During construction basis charge-offs reflects the points. for in portfolios, the basis offset lower quarter net The C&I quarter, CRE losses. and increases by points increased net our charge-offs and X
approach up quarter, ALLL clients. appetite and though office risk year-over-year for select Our X on to we've maintain ongoing a through-the-cycle sector. basis our long-term due areas, XX our Consistent increased and in our points points sequentially high-quality, stress commentary tightened X.XX%, to ratio we supportive basis, credit last the in normalization with basis
of proposed the goodwill under billion CETX rules. points mostly and and remained still XXX a will on a XX% billion current a generate basis were stable and $X.X of phase-in basis generation the Basel Turning capital quarter. XXX Truist tangible the balance the during the of points increase and Slide $X.X also XX.X% rules at gain book offset per our that now CECL to capital CETX deconsolidation of capital assets relatively basis impact under TIH value sale We our ratio by approximately CETX share of on impact anticipate It occurred of sheet. XX. endgame III by intangibles lower as the after-tax combination linked-quarter of will of through from organic risk-weighted
The phase-in point to TIH. level proposed basis to divestiture endgame from selling higher on rules. under proposed points than impact under the of deductions III rules, XXX is overall capital current the larger fully TIH in Basel certain has XX threshold impact positive a the reduction higher our ratio rules basis under which is due due CETX The of
repurchases. conserving TIH increasing standards ability The liquidity including capital during core industry, is when a to capital, repositioning sale our alternatives, of share our capital meet sheet of much accelerates growing our of and variety and franchise time for balance evaluate importantly, the deployment to and capacity in a resuming creates industry for wide Truist the banking
III recognizing on include AOCI current Moreover, tangible sell have securities value share. any our a it in calculation. has to possible decision CETX rules Basel the fully no As rules to our would ratio phased-in proposed securities since losses book impact under on no impact proposed relates market-value repositioning, per
review will updated I now guidance Slide XX. on our
of $XX.X expect billion TIH. exclude pending benefit any First, from to interest of related after-tax cash from earn we comments XXXX the full and my Truist the that of year second will proceeds today on sale guidance quarter income that to receive all
from to balance sheet closing. that Our impact we guidance excludes plan potential a evaluate also any repositioning post
in expense continuing in contribution and XXXX previous second based does addition, In TIH future year full include on guidance and or and revenue the periods. any for and quarter expense from not revenue from operations is
from billion. X% second smaller Looking into due to X% $X.X quarter we quarter rate 'XX decline of a continued revenue is expect to of the in income revenue about second XQ sheet. to likely interest paid XXXX, and GAAP the pressure down balance to Net X% on be
due billion relatively the projects some higher of QX, remain Adjusted quarter to annual higher increases. on first from delayed and income in expected X% QX noninterest to linked-quarter expect $X.X to professional a increase fees, expenses are basis. We stable of in costs, marketing timing merit
year we expectation to approximately Holdings Insurance we latest and Insurance X% approximately X% guidance down revenue revenue from XXXX. closer revenues for Truist would have adjusted full down for Today, noninterest to included Holdings. pressure continued of which to X% deposit to in we been previously X%, reflect now previous from had For down XXXX, our our income. our down X% to excluded offset the Truist expected TIH outlook the from interest X% mix, on would are be to revenue X% tightening to have down down If by rate to outlook X% partially our improved outlook,
with X our pressure assume coming the Our range lower to rate trough in X assumed coming first rate occurring to second X% reduction will X income NII down in assumes year. outlook June result and of the We than in in XXXX. Fewer in Fed the we outlook May quarter annual in half net and Fed funds Previously, X%. interest would with the reduction at in rate first reductions improve revenue reductions the funds reductions still the XXXX. our our the second end revenue modestly of the in of be XXXX for to that add
or our potential the from revenue proceeds TIH from income of outlook full As benefit benefit on interest earned a the year sale second repositioning. excludes balance reminder, quarter the sheet cash and any of
sale be expect the completed still Bill quarter. As to second mentioned, during the we of TIH
Truist our our we to outlook expenses from flat expenses outlook, increase associated flat Insurance adjusted included TIH, $XX.X previous of for equate Truist excluded or our expense had approximately Insurance Holdings. X% to Holdings would 'XX XXXX, flat in by previously over expenses to We from full expected year our to expenses If adjusted approximately in which billion. remain XXXX. with expect expenses adjusted remain we Consistent with expectation remaining XXXX expected expenses
in asset continue of terms XXXX. In charge-offs expect net basis we points XX about quality, of to
tax a effective XX% equivalent basis. we XX% rate Finally, or our to expect approximate taxable on
or the excludes following the consider impact estimated rate balance tax sale repositioning we on might sale. the sheet from that Our a of gain any potential TIH
it Bill now So turn final I'll for remarks. some back to