you, morning Mark good and Thank everyone.
the I economic credit report negative am remain healthy. metrics sentiment to be volatility, Banner's continued and recent that the market to pleased Given able
total of the as and loans compared of as to X.XX% of of loans classified March basis XXst, prior from of loans, XXst, quarter linked when five March at remained Adversely points March X.XX% up as XXXX. Delinquent loans, compared of X.XX% XXst as and total low slightly X.XX% to X.XX% the up represent XXXX. to compared quarter
be and totaling the loans quarter property. classified exclusively this continue almost million. X.XX% $XX adversely downgrade at assets in Non-performing an increase by is of to non-performing total remained modest industrial owner-occupied loans driven comprised primarily The of of assets
of offset in recapture million in a losses unfunded the posted for loan were of in $XXX,XXX. We provision quarter modest was loan $X.X for release and for offset of $X.X a part $XXX,XXX. totaled commitments million reserves $XXX,XXX, losses net a by of which Loan the recoveries by
metrics negative for credit economic As sentiment was with the first portfolio of in reserve essence the anticipated, covering by loan part provision growth in large impact Within modeling, offset the our slowed net losses charge-offs. in continued strong quarter. the
After with and totaled the X.XX% flat XXst, of of X.XX% of XXX% ACL provides our quarter March currently compares The $XXX.X reserve of coverage XXst, provision, the to million nonperforming as coverage linked March of XXXX. total our as or loans. reserve loans
origination XX% were flat A activity the the compared to portfolio down when essentially year of linked loan compared volumes XXst, reflects up when balances March to review quarter, to end with and XXXX. when compared loan
C&I capital pausing and commercial from expenditures down plans. the up loans have rates, reaction activity in higher was utilization and the overall to the X% the business with market. year-over-year. C&I-line expansion negative in the economic the Still, muted general coupled interest prior quarter reflects quarter This, linked the on are many clients sentiment XX%
of not I we the note activity will did late financial that any institution occurred the as that failures quarter. a unusual result in line see
in X% multifamily, are March primarily our real balances X% property compared XXst, non-owner-occupied Excluding commercial category. estate XXXX, down when quarter the to investment declined and the in
I Given on a are a of the more environment, the classes two the current the of color market changing in CRE asset rate will economic getting currently provide press. general that and lot little dynamics, conditions, portfolio
classified less continues the start by of do, to total at However, adversely X% this well entire portfolio CRE that than will time. I before perform the with saying I
continues well. at the to portfolio office office Looking specifically, perform properties
loan prior our detailed geographic to aligns distribution that the the relatively as entire very the this of of segment and The earnings in As closely noted book. is loan X% the our of book the release granularity small loan limits portfolio at of in calls, entire exposure.
within specifically is city book to the metropolitan located of approximately the of XX% Drilling areas, Seattle. the office
to district. The business core the within within Seattle is than less of the city the average district. million, X% dropping only $X.X business However, size million in $X.X loan is
San of of in business a this with we X% of under with The with than X% Angeles of is market under loan the $X.X loan of in loan office is in under $X property located X% an loan million. Francisco million. size with average in is of an an Los is one in located X% portfolio And than less average Bellevue is portfolio $X.X office of the million. million. average size the X% book $X office in Less balance average core only Portland, have with located Oregon, district. currently Sacramento the in $X.X million. size size
will the reset have XX a XX% book rate months. within office the next Approximately of
$X recent operating most loans of de no reflects reset a were statements ability the review Our of significant at minimis million if to rate. concerns to on rates with based repayment today's
become of we the any have aware issues material Additionally, investor vacancy not portfolio. or office within shadow vacancy
estate also million. well. and performing Shifting the real loan commercial the approximately in Retail well-distributed average retail under loan geographically, book, to size XX% an represents nature of with is very of portfolio granular retail $X is properties,
next will they meaningful to today. this And XX to ability of the note the to our rate roughly Similar again, XX% service reset as were the retail have concerns book a office if debt in we, to no CRE time at clients' reprice portfolio, months.
Moving completed to and multifamily reported projects. split X% growth XX% new roughly multifamily. which prior solid year-over-year. again growth in and quarter construction quarter originations conversion We is XX% this portfolio, was the over up The XX% the of
In be is before, I loan market have rate as XX% the across to total, housing commented our average balances and spread the approximately footprint. less multifamily with $X.X size portfolio million than continues affordable XX% and
cover resets, they next adequate of with the were years, rate Approximately suggesting today. the to statement multifamily the most over reprice will two X% operating portfolio to occur permanent recent room the
X% by declined the this a of quarter. continued replacement completed in slowdown projects, within mentioned as starts function balances sales of last coupled loan quarter, development and line, the residential with Construction of construction product
development When and multifamily primarily compared XX% the growth X%, to construction land construction XXXX, driven reflect increase March year-over-year. of an up portfolio, loans in by of the
development XX% to associated Of lesser the the currently well respectively. in housing a construction land and commercial multifamily projects, as affordable portfolio, vast construction up majority loans located currently nearly X%, various submarket. extent, X% California with And is as
acknowledge have While across we with our continue to the performance. residential pleased our footprint, sales of construction starts slowed and portfolio be of I slowing volume home the
in are both to diversified, remains across spite price spread still homes and completed the and rate and closed product in geography, portfolio sold environment. The being point, our rising of mix starts
rate our last remained continues in moved taking consistent finished reported we buydowns the to sponsors. sheet, norms, keep that and sales be still to order land being continue see As I we although prepared moving. in capitalized to to have Acknowledging upgrades, to off builders remain our limited longer they their sold well concessions, and are to Most to be quarter, longer exposure and products and strongest proactive balance historical cycle. importantly, underwriting completed our with our we see homes beginning absorb within
the from exposure include total mortgage slightly construction and commercial loan quarter. the down of residential XX% over product. acceptable linked remains exposure multifamily land, XX% at the family you X% of X-X consisting total our is loans, total, of X% construction custom portfolio, In residential was When construction
the to Agricultural loans, of that be from Balances we seasonal as again noted sheet. are anticipated. the release, growth X% the the up portfolio, are on declines the reflect down continuing And balance X% all-in-one normal linked in loans reported consumer up construction trend earnings mortgage in completed custom year-over-year. quarter, moving in quarter, XX%
of to close I profile. our moderate by a which will pillars, risk recapping maintain one is strategic
have through I As credit said is cycles. for all culture success designed our business before,
source process losses Our base. so strength reserve a consistent remains loan solid turbulent and underwriting for times, these stability does and and too in robust portfolio our review capital of
risk navigate economic Our and moderate us credit brings. remains metrics well profile to remain cycle positioning intact, our this whatever strong,
Peter? to turn I'll microphone that, comments. for Peter his With the over
