Efficiency Decline

Efficiency improved to 52.3 % (adjusted 52 %) from 55.2 % the prior quarter, but non‑interest income fell to $25.78 million versus the $27.39 million estimate, and mortgage banking income was $11.17 million against a $13.77 million forecast. Net charge‑offs stayed at 0.1 % of average loans, consistent with estimates.