we We’ve are results. on whether morning, of winning slide share We per shown Terry. believe slide. third best losing revenue updated Good the of is or Thanks, our measurements for one everybody. the quarter
share to second per of revenue continue year. the quarter see, experience growth double-digit can last since you As we
Secondly, the peer group’s line the red dotted growth. represents year-over-year
by share growth wide As outpaced on slide, the per a shown peers on revenue margin. we our
this internal focus relationship mind, North and meaningful have our for our time Obviously, outsized managing the recently Keeping Bank clients the around results. had is BHG’s in strategizing has influence more curves. integration of incremental inverted around Carolina That focused a on during of revenues on said, and remained of managers generating a yield significant and gathering firm. these performance
accruing It us our to growth. all. apologize motivate afforded for for position the future in franchise as at franchise invest on our hiring, us workforce, don’t enhanced incentives better by allowing foot We that our to on well to opportunities for as accelerator the keeping has
of Additionally, provided book We benefits and positive now. value outsized winning. which on franchise right BHG remained XX/X. our our energy our franchise There in has tangible It’s offense about of accretion, shareholders. remain a its all lot all
this engaged, excited into remainder for opportunities and of year focused and Our our XXXX. the about are associates going
the more average average a Now quarter XXXX growth than loans XX%. loans, quarter annualized XXXX comparing third third was of our to the of
different. have We comparison believe that our to loan in to for we XXXX be any our to believe digits will low that outlook this continue growth time, loan growth in At be reason XXXX XXXX. no will double
platform because the that our Impacting the success reasonable double Advocate midst managed in volumes was can the and in to still hiring of low the a over is we XXXX digits this of the and believe We robustness of our third acquisition only We’re anticipate plan of several next constructing continued statement target. are our make quarter quarters. the Capital.
deposits. attorneys, network that on their We’re access of us, gathering vast to great and products including on commercial banking enjoys initially a significant relationships. opportunities depth excited in client built provides where with has about Advocate Advocate can franchise offer their delivering the we service emphasis
rates balances a plus added weighted other services average a During in second. million their – loan in for rates client they loan base. the provide third fees yield X%, with $XXX speak quarter, I’ll to the Advocate approximately of to
this now. shown several chart We’ve for quarters
also We commitment only the compared book details at average loan outlier This information small the to to of current small being loan provided March chart loan has the commitment our so to origination offer Construction that type. portfolio. amount we’re million, of large average better that the extra appreciate an chart reasonable XXXX, by is our our for construction. granularity regarding in very increased goals. growth information, can of hit on We believe our ticket sizes almost you $X.X relying which of that not book this we part
chart impacted on right discount income. The details the accretion net on interest
net the income less interest see be As our impactful our the you by at continue believe to and third to be in continues we’ll impactful results gold the we line, quarter of future. X.X% can to in discount accretion less
was accretion way through all less GAAP XXXX and for and we’re primary to that sheet overcome going it was discount the our headwinds growth growth. We to revenue an of balance impact knew less
our are accounting attention is Anyway, those chart bars our blue distant rearview said, value to the mirror. hopefully, in is. And chart shareholders. the we too key to the our future, on more once on showing not right to purchase can deliver That this where ability growing even increased the bars the in blue so obviously stop is
been several by on rate our portfolio here’s Next, another index. loan It’s showing slide for we’ve quarters. update an
Prime, XX% averages with mix approximately credit LIBOR real primary which estate of being being XX-day XX% commercial substantially tied to the about XX% LIBOR to loan rates, and all Our fixed and LIBOR contributor.
basis by cuts. LIBOR loan in points and XX weighted of decreased LIBOR for for rate points XX which basis victory The average points XX for for we experienced Prime, coupons given quarter-over-quarter prime-based somewhat is credits a and basis book
decrease. spread to actually quarter-end considering the the rate So to compared categories quarter-end widened in these after
a levels basis a the quarter rate Of traditionally the rate it five-year X to on increased dropped win rate loans coupon be treasury XX rate only as rate the fixed significance The loan points treasury five-year benchmark. points. proxy simple, spread down – is our on rate fixed while a in and as fixed near during credit the us dropped use average an would Keeping anticipated for on spread weighted performance we these environment. basis an for fixed nice average keep
most year-over-year, in up the the third quarter the same of deposit balances currently from today, and remain Perhaps were in our deposit average XXXX stand the billion the slide at deck anticipated quarter costs average second deposits. to X.XX% Now $X.X
third bond back quarter the two conference Let’s performance on in forward. today in go usually our but book or our margin areas discuss impact liquidity wholesale to the relevant These quarterly assets. downside the don’t the probably primarily, going quarter. NIM it’s biggest and because in to calls, bank we’re performance have We
by XX quarter while linked-quarter, decreased the yield no basis data yet, will other decrease believe but as Bond flows, is this yields the was have see due means book. well. to peer XX% by this don’t of the About We was XX% of unexpected. points decline peer cash we the reinvested in valuation
yield. the as So reducing value the book rate of the declined, increased
in chart year. contraction yield additional But XQ. to anticipate bond middle our yield book, the which as more assets added into we’ve stabilize fixed We rate performance help the indicates, next will going
this Most which added our to than a a second we As in quarter quarter September, $XXX of balances a was quarter a this more in completed of timing we any recent large offering maintain of just longtime client memory. and liquidity, sub-debt and deposit that similar acquired the million to cash we from amount.
injected back while the of million the be Regarding in in within wealth depositor be the sub-debt in million is early will to the at when Most company us small fourth quarter. client their with was range Liquidity January. taxes. our while way will quarter, that into until unit will the a deposit reductions the $XX pays for find year likely earmarked next management its fourth the offering, holding bank, $XXX remainder
income. income a our any credit as we pay to when attention. Currently, is we There margin event, and these create our trumps much In as quarter work income we net will and interest grow pressured will interest with both point net NIM matters can third performance. of clients
value As base bankers transition “There’s best in growing customers, based by on our that those markets. as relationship we the in our remain a a result, wise buy-side especially investor vendor hiring client once advice.” to So service and said, on focused
the on deposits. Most for focus which was third to our left, Now on rates. the looks the table at end-of-period firm’s of quarter
basis we job our rate bang-up point managers, a environment. In relationship did managing believe, rate cost XX negotiated bucket, decline. in Our deposit a we’ve this on achieved
do that We are, getting or in given XX% or we’re late At were rate cycle, much basis think reduction rate very quarter. most target where beta point we beta pleased would recent so basis the on point a XX category. the decreases XX close point the point our this the XX are particular in a rate we in reduction, basis a mid-October here to in be
in much rates more base have should further. are our decrease very with Our with rate to relationship manager tune is prepared the environment client and discussions
challenge. Here is our
to same on our reduce to funding. growth wholesale deposit while fund have deposit more We at dependency book loan increasing expensive and rates, the our reduce the
new rests to to client from this ability continue base. Our accomplish their deposits primarily gather hires with our and
rates. More on our We but quarter the I normally accomplishing our accounts. on managers provide our to interest-bearing work calls, positive relationship don’t respect conference wanted monthly transaction deposit rates information to during are lowering emphasize with
our of can believe person systems. the relationship is a Granted in the that merely or that previous those rates pushing account are deposit of is manager. that brain. transaction interest-bearing means this is may those are accounts which our slide, Several we button have It on the rate our only the XX% change accounts, you’d negotiated, part the authorize that
treasury, to done. rate who believe number ops to tell is up the core It’s accounts me rate a have banking, of deposit negotiated much accounts. namely relationship different banks at All lower deed of much love We bank’s more and them the and have would the intentional. all other fewer and approach would banks rates our really be and sheet call and countries
the a bean-counter to At be not their good – these a rate able their only it’s said, but supervisors, relationship calling have to manager idea, or better their to by and fair convince client Pinnacle, to idea. lower types call
our that we accounts. reducing Can’t experience interest-bearing you So the will October, on tell far progress are we but transaction we’ll so be on of at end good. rates continued where think optimistic we
a goal deposit Our our interest-bearing XX% beta book. is for
got we’ve It targets, to go great a we’re So our a achieve but us start. ways a while on to take to off will CDs.
while longer duration wholesale customer roll and Our average XX% down CD months, customer take this wholesale. CDs XX% duration approximately the average than book as The six little more is about quickly, slightly XX book will split of fairly an giving will is us months. a
our increasing rates. we When took fair share regarding rates of criticism were rising, our deposit
enter As like an could part we what cycle, front be we down odds. of the rate extended our
with the our proactive accomplish we our client objectives. clients to hide We our sincerely curtain will not surprise be base depth to our We will of and and behind relationships them. appreciate a leverage
for we’ve the in With quite relationship yield now a speculation several the inverted curve the should been a best minds for occur sometime. the months, recession We investors’ in change cycle place has believe got credit of bankers on business.
rodeo, have the This storm We is not can clouds also credit they to believe first sense are when we officers. their form.. best beginning
concerned, when White tell now, our Harvey Right as on credit what based We’ve we the commercial the even at far as complacent forefront we’re pretty and his team before, credit charts booking provides about these remain me, estate chart our risk comfort good. us of shown and never appear projects. real so the that is accounts metrics darn very large Credit remains I hope more we mind, credit. talk not
assets decreased. ratio, and our nonperforming while For third relatively asset we charge-off classified small the in increase quarter, experienced net ratios
as that that that goes with credit to us about our third any other in seeing were in into will agree believe credit the XXXX. steady and we quarter were systemic the bankers cause she XXXX perspectives issues as not So or change
account Now allowance could points to the range How models the stages points, determine up increase? the in much the concerning the each CECL. current. of that be our account we will allowance allowance of Preliminary, XX At accounts was will that believe use loan quarter. transfer basis basis slightly the without from we about the validating We’re basis XX in to final over XX meaningful of account into – September approximates to This to an capital. X amount into of accounts impact which transfer various million, was includes XX, purchase points will X reserves, portfolio. amount – amount $X impaired loan which from credit a loan allowance
fees. Fees up million, XXXX. quarter to XX% the than turning Now more third over $XX.X more of totaled than
than million BHG XXX% As up another or Terry $XX on in greater a phenomenal had mentioned, quarter. Their was contribution second. year-over-year. More BHG
– great a months a year had approximately long-term only businesses originators. having mortgage year so the last this mortgage this increases not leading helpful with mortgage have nine over strong They’ve drops first XX% with fee with are XXXX, the business, correlating in are way of XXXX annualized year. Our up number great to we anticipate strong. but markets with also in rates, again, this line of residential Also, finish of
Additionally, are deposit having consider figures, management excellent. to wealth fees mid growth be and double-digit which we
won’t several business model. New participated lot in of members during was for with you what their two the information But our the perspective like said, BHG’s BHG, I’ll to available in repeat it, quarter, BHG’s go of that Concerning on team will where we website we of that executive call www.pnfp.com, so a York be to another a great more if We provided to through Day during for, on third or was replay you here. recording session, hear provide direct feel hand detailed Analyst months.
the Originations said, all-time BHG gain significantly realize credit sheet, their to keep sale. BHG a their to balance than of business phenomenal interest rather model year more being That on is are at an high income likely period. on on realizing continues thus and outperform. having more will
them to weeks. They the be believe in next the loan which few place warehouse will should within this funding, allow
been in expect will we BHG reported the the amounts fourth with less consistent what be being and the from more with fee it So in reported second the quarter. has third quarter revenues first in than quarters,
relation been recourse total and on of and of books over accrual rates prepayment X.X% banks the only but associated accrual the the also keeping for of Healthcare books Bankers on line Bankers losses, business last reimbursement to or the include loss that purchased these on credit volume loss, on hiring not details cost primarily doing the outstanding all credits of losses The green they at their with They’ve the the the have with outstanding the years, credit with the payoff actual total the few the of banks cost prepayment record Healthcare in credits. The substitution early other column about chart right Group. loss substitution Group. for substitution credit resource from associated
to lot credit credit continued are who believe with subject business be or potential our credit Healthcare on sophisticated is where by into has shelf network sheet Bankers in about historically analysis revenues.. Approximately group. We up keeps the base balance analytics clients XX% profiles. a BHG had good community our that loan of for shelf Their its made borrower have model BHG loan of their the to its and We’ve a the identifying BHG, of conversations Group banks. been of top on profile gain sale models revenue
the on approximately income loans generated balance to from loans on cash required loans held to being of either platform. at BHG released generate million to However, their as able Since has $XXX compared or of were sheet operating the balance of balance being held balance September loan to with on sheet end held the XXXX, auction also fund this sheet the of balance been They’ve XXXX. prior permanently currently second-half on interest $XXX to building of been BHG sheet, sheet million growth. BHG’s that be able
reported ramped marketing bars on which loans as left platforms. the more were will bankers its sophisticated blue on funded, by the the more has represents represent these The gain on sheet, on gain bars originations interest with green sales. which The placed are option held sale placements loans is gold The more with BHG the up blue income. bar analytics result one-off on been collect or BHG have being and sale which up revenues through The loans either enhanced of chart loans ramped balance being with with generated. bars and
BHG the mentioned previous their loans. anticipated balance sheet we’ve on is to As increasing slide,
It quarters BHG on BHG diverse good a sheeting all take but to will revenue We’re for for through idea. income, provide many the will we future interest gain it’s sale all max balance in in more that by believe loans, more a agreement that this business income reliable a the with said, model. stream
XXXX the risk, on clause risk BHG with credit substitution As be believe to more realizing associated change, balance any still Even sub-loans, we been growth given credit should this all for BHG should in sheet honoring anticipate with see loans from what incremental in earnings XX% in that its XXXX. they keeping has minimal.
significant run rate over So now matters briefly to on discuss incentives. to expenses, most
the incentive quarter, in press third increased our in quarter mentioned we accrual we large. our but fourth As be to the don’t accruals as release, expect nearly
to certainly pleased rates report things also two continue in to We’re important us. for retention that increase
count our engagement newer turnover shrink can and clients taking to on in as culture. hold initiatives our Our into our are are markets and continues consistent those workforce associates employee buying service
that materially years, For our expenses, asset range. excluding to changing in expense XXXX. we head merger the average don’t ratio, the been two into last as X.X% has We see
common use approximately yesterday, repurchases. open approved will Lastly, current authorization and extends it authorization Board which share has of intend our authorization, the purchases million we We this $XXX months. upon begins Directors bit every of This common repurchase exhaustion remaining million market for next over rationally additional the an for to stock. XXXX do our our but of December available XX $XX authorization, of funds of stock through
I With back it to over turn that, Terry. will
