$XXX,XXX This or Civista members bank; increase and we and Dennis our CEO by joined million, Chief the to SVP and company other the Chief over bank; executive XX% Rich linked-quarter, Officer per afternoon. diluted and fourth quarter increase Chuck our Dutton, us $X.XX a like Whinnem, or our a of would for call.
I'm and EVP million, bank, over is Bancshares, company, Officer team.
This Operating represents of Financial I you morning, the income $X.X reported the $X.X quarter net quarter of President of and of in of fourth Ian of of President for and which XXXX. share, the company thank joining the today Chief SVP Officer the Parcher, fourth Lending for Shaffer, Thank of you. earnings and XXXX Good the
per share, per $XX or million compares $XX.X reported XXXX. net also income We for share to of the year which diluted million, $X.XX or diluted for $X.XX
the year was Our ROA X.XX%. for
improving for our However, continuing it quarter string XXXX. X.XX% quarter, each ROA of for of our the was
income This included XXXX of $X.X I fee.
I refund in to $X.X way tax look process able XXXX. of up mortgages, and revenue originations the that million transition and income. gains service of make XXXX and charges, greater loan year changes am processing to this income were our $X.X by XXXX markets. income.
Loan replace Civista million continues We nearly demand million be noninterest previous due for to on mentioned during of revenue a than to each As was the renewal happy for lease as noninterest have to increasing report we was $X.X MasterCard calls, noninterest for and strong we lost overdrafts, our increased our million other $XXX,XXX in increased residual fee a increased to lease sale
to we had and our be However, of which the loan pricing, impact approach slowing continue intended lease to growth. in disciplined
grew an for funding. rate a Our to on to year.
Core funding reliance annualized brokered allowed X.X% loan which during continues grew quarter pleased our quarter, and deposit at lease of X.X% rate core that fourth and respectable reduce and deposit over million us the $XX the a be organically our by focus, during portfolio were of funding the we
both $X.X increase for or pricing which rate income interest of our We reported entire through encouraged represents deposits be by from cycle. total overall end initiatives our to ability core linked quarter remain of of toward have of a quarter, funding value this our represents shift deposits we believe impact loans gathering continue While this deposit the number we a compared in interest to million, our and the and overall, relationship underway, deposit to our a was that the X.X% an to $XX.X quarter. I contributes of decline disciplined franchise.
Currently, in slight the third million, net core more
in attributable to our X net overall year interest point our cost, decline ended income funding by increase the XX point, While increased primarily basis which earning yield was at in basis the asset X.XX%. a
able quarter Our carried X.XX% had in replace and at them rate that reduce replace They in brokered to the in of The matured savings subsequent the CDs decline to a was expanded with $XXX XX a year.
Similarly, that We a laddering half brokered that were attributable million blended representing million to rate during X.XX%, was at CDs of largely rate million X.XX% months by laddered of and XX able them a in a XX by blended margin of December over of cost we of months to funding of XX the X.XX%. CDs carried or matured for the was $XXX that X.XX% CDs October. last $XXX the our X.XX%. brokered points were our in points. and we basis over next rate reduce basis result
impact fourth this While our our reduce funding had overall anticipate the little results, further first we do will that on quarter quarter of XXXX. in it costs
CDs per of over X.XX%. an close the of We that that increase few brokered month, at of share. a per quarters.
Earlier mature expand $X.XX cost. to continue announced another represents we will of the we X.XX% Based year-end of our believe at that dividend have quarter annualized being also $XX.XX, the end margin We the troughed on XXXX share quarterly at during this this market anticipate next rate will quarter to million in lower a of a first our our able and to $XXX yield replace $X.XX second
was decreased linked from million quarter income X.X% noninterest and the from from $XXX,XXX fees. and of X.X% lease a primary decline increased or revenue residual quarter, XXXX. the or $XXX,XXX $X.X of fourth linked quarter The driver in the our the quarter During decline
on traditional held policy a $XXX,XXX loans receipt residual from fees, The increase less sale banking quarter particularly fees. the life death for drivers income were the As noted, predictable benefit and former primary leasing prior fourth of have increase a leases than on from is year's of gains and we the mortgage employee. the in $XXX,XXX more a insurance
from noninterest proud prior our X.X% in X.X% the As our fact to million or quarter. $XXX,XXX increase are income $XX.X I particularly mentioned, linked quarter the for we Noninterest of expense increased represents year-to-date year. comparison that the a of
expense on continued Our nearly in noninterest of every category expense. control improvement focus yielded
However, expense team by using our these X of as quarter. tenured These in filled. been in noninterest in finance and offset transition department professional employees have in finance our fees were the new the as continued retired during positions in consultants we all resignations an controller declines as experienced increase third we we July, other our
a to the quarter. quarter will utilize continue of end consultants do them the XXXX We first beyond and capacity first reduced needing of not the anticipate during in
of and identified we that reserve servicing currently systems. tasks performed. lease are of of number expense. noted being established consolidate a during during accounting a process in our This and last converting it, our item reconciling We against noninterest in discussed will which systems was we to and As last manually call automation had call, other quarter's number we a the a introduce included
As process, reserve we by the the continued we the during increased another $XXX,XXX quarter.
conversion due our the of quarter.
Year-to-date, increases, assessment expenses. FDIC $X be $X.X prior XXXX, expect increased accrual to insurance over Taxes an the during expense in million prior the over increased X.X% to total other million, noninterest merit quarter first in base. increase to due year-over-year year. payroll-related fourth the the coupled year adjustment increased primarily or with completed an $X.X expense We assessments and million Compensation and
equipment are ability detect on as to $X.X software mitigate as operating losses in contracts. expense decline new Software in aimed we to contracts These related to and maintenance improving $XXX,XXX with up included million at due and was which depreciation costs offset fraud existing increases increases a contracts, depreciation. equipment were maintenance associated our partially software our well by in lease own
continue a leases goal expense we purchasing value insurance related of to originate operating We company. with a operating and leases We residual very eventually fewer eliminating originate those do to leases. on operating tax-efficient remain that are depreciation
quarter and effective rate year-to-date. was XX.X% for XX.X% Our tax the
to calls should automated was XX.X%, a as branch and improvement savings transitioning Our yield and our efficiency for the December savings but quarter, anticipate annual experience. we improve annual $XXX,XXX in and over than which is linked after-hour system, close would be did another result We customer the ratio a in our from third-party in a continues an to away our provider like. are higher $XXX,XXX which quarter
our in efficiencies looking more across XXXX organization revenue ratio for and bring expectations. efforts cost to enhancements will this our the continue in We line with
sheet, commercial and loans, residential year loans the to grew for million. and This total loans, our construction occupied loans. experienced real of Turning $XXX.X the increases non-owner growth a X.X% as estate, balance rate CRE and ag real by leases focus represented estate we in
maturities of grew all continue and represents million. quarter, $XX.X years X.X%. growth less. to we rate, or originate the annualized by loans virtually loans total all rate and an leases our have During adjustable of for our portfolio leases The be X This
reprice pricing and lending funding. ratio bank, our how of Given to approximately over we loans as better CRE C&I and higher at are align loans risk-based a rates XX today's we next our $XXX rates, the expect a capital aggressive commercial pricing we real remain manage months.
Civista be disciplined million remains loans estate we in to work CRE and continue our to to lending core in however,
buildings average originated real XX, estate average division renewed at at and X.XX% December of total an were made commercial X.X% by at our originated loans loans leasing X.XX%.
At and were quarter, sold the secured our rate up X.XX%. During office loan by leases Portfolio an loans and new residential and loans originated were of of portfolio. rate
located Along stated by XX.
We pipelines As office the single our optimize Metro buildings manage us year-to-date were growth several quarters, the predominantly and districts. rather $XXX high-rise to single-digit secured to further funding our office with outside or not and loan improve loan we capital buildings secured these construction low are at central range in production, be to solid December of lines business by allowing our have ratios. for continuing million our are remain undrawn previously, loans X-story they next anticipate
to lenders, quarter. the Our on core focus bankers, private deposits.
Total continue from relationships officers, unchanged relatively teams and were attracting deepening and treasury commercial linked deposits management retail
our by million. brokered However, we balance did deposits of $XX lower
X.X% For deposits. in $XXX.X and savings the year, accounts time money million, and total by deposits or increases grew market on
At to addition ratio held market deposits Homebuyer respectively. initiatives and XX, in our successful $XX program frontline the in loan-to-deposit was cash of our million adding the management money were we In accounts, Plus and December XX%. clients' from $XX.X wealth our of million, represented State teams, which Ohio's deposits
as became with deposits During the balance as money funding part more basis deposits. pricing core initiative quarter, to by and deposits time in accounts X higher interest-bearing market to aggressive of point our cost wholesale declined our replace X.XX% we of
earnings our net our and balances XX, sale capital available associated balance them. since million, as million $XX,XXX. XX.X% granular and and organic security quarter losses And deposits.
With total capital of of our At of Civista's covered with XXXX, linked respect XX, our deposit $X.X base of our We deposits. create $XXX.X one and in of approximately own represents potential $XXX of had This remains $XXX.X we with of more Our cash deposit combined December million significantly adequate limits were to to unpledged public profitability.
We of excluding the with $XXX.X accounts, to at continues in account, unrealized FDIC XX.X% million overall support deposit source up represents were interest to believe noninterest-bearing year-end. of our December December to across with an liquidity. unrealized margin to those valuable and contributing of growth be our uninsured had of continues our municipalities our At a our excluding FDIC as million our deposits, XX.X% excess funds and deposits million portfolio made for which solid securities continue $XX.X footprint, increase average than XX.X%, December increase XX. our At fairly CDs, to deposit acquisitions. XXX% deposits total cash franchise portfolio classified low-cost December or our deposit various represents characteristics, XXXX.
Civista's when goal overall from security sheet and at losses securities concentrations XX, be was million most Civista's no than of $XX.X XX, view maintain deposits.
Other insured
value. Although, which deemed We quarter or we any capitalized ratio for during continue our the at did regulatory year, to X not believe year leverage we X.XX%, repurchase with purposes. our well is a is shares ended Tier the stock
national we low would tangible equity screens earnings X.XX% the equity our to were our balance XX, and any common guidance strong, across will capital XXXX, we of rebuild at the at associated TCE the showing earnings increasing year-end Indiana X% uncertainties tangible we and and focus ratio the our Although, common like Southeastern end, dividends and economy the that we'll previous back X.XX% Ohio between to building support our from repurchases ratio of with remains December recognize to that continue ratio To with is X.X%. on and economy, signs to to deterioration. growth.
Despite no payment
Our credit quality remains strong.
the of for allowance XX, X.XX% with XXXX, credit is XXXX. losses December at December X.XX% XX, ratio at which to Our total is loans consistent
nonperforming XXXX multifamily However, contract that first was close to to our during property declined loan the attributable $XX.X allowance expected loans quarter XX, December downgraded quarter. XX, be to at were at totaling December to million of One credit losses to is that XXXX. an XXXX.
This a $X sold that under million for X is during is to on from nonperforming XXX% loans XXX% the
terms. but of that is loan loan The compliance is second our C&I $X.X an current, with million out
will borrowers first XXXX. during brought of We have the with the believe into back that quarter compliance met loan be and the
quarter, the to but $XXX,XXX prepayment curtailment model. historically provision, to low our loan impact in on and a make attributable which rates loan and we CECL primarily portfolio its partially attributable During was did the growth, our
a and or my of have succession Chuck's are promoted we future. to is together promotion look to customers, results. many This quarter I employees Officer pleased with change I of we President announce and of our his to last and Lending commitment week well-deserved Parcher to week Officer a year-end As and Lending we and are growth role may and Civista's stability, recognition plan summary, the serve President CEO you the announce President forward very we're and Chuck of organization's have strong Chief the last and contributions, to with company bank. Executive in of CEO full of that our of to happy seen, company and bank. fourth working will reflects continue the happy and our Vice shareholders.
In Chief him
pricing with communities. this a up happy our continue our sets and creating you believe may lending your serving net loan our questions our XXXX.
Civista value to alignment. approach I the is have. customers strong remains Thank and on and now that deposit margin, solid teams that way our into coupled attention will for and be to shareholder us investment, disciplined for afternoon yielded results you any we funding focused bringing and core your Our initiatives efforts, executing address on and expanding These interest
