NEW YORK (AP) — The Small Business Administration said in a policy note that green card holders won't be allowed to apply for SBA loans, effective March 1. The move is the latest by the SBA as it works to tighten loan restrictions and restructure the agency. Last year, it tightened a requirement that businesses applying for loans must be 100% owned by U.S. citizens, U.S. nationals, or lawful permanent residents, up from a 51% standard. In December, it issued a policy note that said up to 5% of a busine ...

Financial Data and Key Metrics Changes - First Business Financial Services reported a nearly 15% growth in pre-tax, pre-provision earnings over 2024, with a return on average tangible common equity exceeding 15% for the year [4] - Tangible book value per share increased by 14% year-over-year, and earnings per share (EPS) grew 14% over 2024, surpassing the long-term annual goal of 10% earnings growth [4][5] - The net interest margin (NIM) declined by 15 basis points to 3.53%, primarily due to a non-accrual interest reversal, but remained stable at 3.64% for the full year [15][16] Business Line Data and Key Metrics Changes - The private wealth business generated a record $3.8 million in fee income, up 11% year-over-year, while service charges increased nearly 20% year-over-year [9] - Non-interest income showed resilience despite lower SBA gains and variable swap and loan fees, achieving 10% operating revenue growth for the full year [10][11] - Loan balances grew by approximately $39 million, or 5% annualized during the quarter, and $261 million, or 8% over the same period last year [11] Market Data and Key Metrics Changes - The company experienced elevated commercial real estate (CRE) payoff activity during Q4, with total payoffs in 2025 exceeding 2024 levels by almost $70 million [12] - Core deposit balances increased by 12% from both the linked and prior year quarters, primarily from core interest-bearing and money market accounts [14] - The company anticipates continued solid loan demand in its bank markets, particularly in Southern Wisconsin, benefiting from a strong regional economy [12][13] Company Strategy and Development Direction - The company aims to maintain double-digit growth in earnings and revenue, focusing on talent acquisition, technology investment, and prudent underwriting [21] - The board approved a 17% increase in the quarterly cash dividend, reflecting confidence in the company's financial success and growth trajectory [5] - The company emphasizes organic growth as the best way to drive shareholder value, rather than pursuing M&A opportunities [72][73] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about future growth, citing strong pipelines in commercial real estate and C&I loans, as well as potential benefits from changes in federal tax policy [13][21] - The company expects to see growth rebound to typical double-digit rates in 2026, driven by positive trends in the banking industry and client demand [12][21] - Management noted that while deposit pricing pressure remains competitive, it has eased modestly since the Fed began cutting rates [16][70] Other Important Information - The company recorded a non-accrual interest reversal totaling $892,000, which compressed net interest income and lowered the margin by ten basis points in Q4 [8] - The effective tax rate for 2025 was 16.8%, within the expected range of 16%-18%, and the company continues to generate excess capital for organic growth [20] Q&A Session Summary Question: Details on the CRE relationship that drove the increase in MPAs - Management provided insights on the timing of appraisals and the current loan-to-value ratio, which is 72% across the cross-collateralized properties [26][28] Question: Expectations for credit costs in the coming year - Management clarified that charge-offs for the quarter were primarily related to equipment finance and not the downgraded CRE loan, indicating no specific reserves were needed [30] Question: Fee income guidance clarification - Management confirmed that the 10% growth expectation for overall fees excludes certain non-recurring items and is based on a solid foundation [32][34] Question: Equipment finance portfolio balance and expectations - The equipment finance portfolio was reported at $20 million, down from $61 million, with expectations for stability moving forward [52] Question: Outlook on specialty businesses and fee income growth - Management highlighted expectations for growth in private wealth and SBA gain on sale, aiming for 10% growth in overall fee income [111]

Core Viewpoint - MetroCity Bankshares, Inc. reported a strong financial performance for the fourth quarter and the year ended December 31, 2025, with significant increases in net income, driven by higher net interest income and noninterest income, alongside the successful acquisition of First IC Corporation. Financial Performance - The company reported net income of $18.3 million, or $0.68 per diluted share, for Q4 2025, up from $17.3 million, or $0.67 per diluted share, in Q3 2025, and $16.2 million, or $0.63 per diluted share, in Q4 2024 [1][5] - For the full year 2025, net income was $68.7 million, or $2.64 per diluted share, compared to $64.5 million, or $2.52 per diluted share, in 2024 [1][6] Acquisition Impact - MetroCity completed the acquisition of First IC Corporation on December 1, 2025, which is expected to enhance its competitive position and financial flexibility [4] Net Interest Income and Margin - Interest income for Q4 2025 was $60.3 million, an increase of $6.3 million, or 11.6%, from Q3 2025, primarily due to a rise in average loan balances [7] - The net interest margin for Q4 2025 was 3.73%, up from 3.68% in Q3 2025 and 3.57% in Q4 2024 [10] Noninterest Income - Noninterest income for Q4 2025 was $7.8 million, an increase of $1.6 million, or 26.5%, from Q3 2025, driven by higher gains on residential mortgage loans [12] - For the year ended December 31, 2025, noninterest income totaled $25.2 million, an increase of $2.1 million, or 9.2%, from 2024 [14] Noninterest Expense - Noninterest expense for Q4 2025 was $20.4 million, an increase of $5.8 million, or 39.3%, from Q3 2025, mainly due to merger-related expenses and increased salaries [15] - For the full year 2025, noninterest expense totaled $63.0 million, an increase of $9.6 million, or 18.1%, from 2024 [17] Balance Sheet and Asset Quality - Total assets were $4.8 billion at December 31, 2025, an increase of $1.14 billion, or 31.4%, from September 30, 2025 [20] - Loans held for investment increased to $4.05 billion, a rise of $1.08 billion, or 36.6%, from September 30, 2025 [22] - Nonperforming assets totaled $26.1 million, or 0.55% of total assets, at December 31, 2025, an increase from previous quarters [29] Efficiency and Returns - The efficiency ratio was 46.7% for Q4 2025, compared to 38.7% for Q3 2025 [18] - The annualized return on average assets was 1.80% for Q4 2025, down from 1.89% in Q3 2025 [11]

Core Insights - The company reported a strong financial performance for 2025, with a 30% year-over-year growth in net interest income and a consistent expansion of net interest margin throughout the year [1] - The strategic sale of approximately $850 million in single tenant lease financing loans to Blackstone improved the company's capital position and reduced exposure to lower-yielding fixed-rate loans [1] - The banking as a service (BaaS) initiatives generated over $1.3 billion in new deposits for 2025, more than tripling the amount from the previous year [1] Financial Performance - The fourth quarter results showed a 21% increase in quarterly revenue compared to the prior year, with net income of $5.3 million or $0.60 per diluted share [20][21] - Adjusted total revenue for the quarter was $42.1 million, reflecting a 21% increase over 2024, while adjusted pre-provision net revenue totaled $17.9 million, up 66% year over year [20] - Net interest income for the fourth quarter was $30.3 million, up about 27% year over year, with net interest margin improving to 2.22% [21][22] Credit and Risk Management - The company faced credit challenges primarily in two portfolios: SBA and franchise finance, but overall credit quality remained solid across other lending verticals [7][9] - A provision for credit losses of $12 million was recognized in the fourth quarter, with nonperforming loans increasing to $58.5 million, primarily due to SBA guaranteed balances [24][25] - Enhanced risk management processes and prudent underwriting standards are yielding positive results, with expectations for gradual credit improvement in the second half of 2026 [7][9] Strategic Initiatives - The company is focusing on attracting higher credit quality borrowers, anticipating production of approximately $500 million for the year, reflecting a commitment to prudent risk management [12][13] - Investments in technology, including AI-driven solutions for document collection and predictive analytics for risk management, are expected to enhance operational efficiency and credit quality [18][19] - The BaaS platform continues to grow, supporting various fintech partners and demonstrating strong demand for sponsorship and program oversight capabilities [14][15] 2026 Outlook - The company expects loan growth in the range of 15% to 17% for 2026, with net interest margin projected to reach 2.75% to 2.8% [28] - Noninterest income is projected at $33 million to $35 million, reflecting lower SBA originations but offset by continued BaaS growth [29] - The provision for credit losses is estimated at $50 million to $53 million for the full year, with expectations for moderation as problem loans are resolved [30]

Financial Data and Key Metrics Changes - The company reported a quarterly revenue increase of 21% year-over-year, with net interest income growing by 30% year-over-year [5][21] - Adjusted total revenue for Q4 2025 was $42.1 million, reflecting a 21% increase over Q4 2024 [21] - Net interest margin improved to 2.22%, up 55 basis points year-over-year [22] - Net income for Q4 2025 was $5.3 million, or $0.60 per diluted share, with adjusted net income of $5.6 million, or $0.64 per diluted share [21] Business Line Data and Key Metrics Changes - The banking-as-a-service (BaaS) initiatives generated over $1.3 billion in new deposits for 2025, more than tripling from the previous year [6] - The SBA business maintained a strong position with nearly $580 million in funded originations during 2025, despite industry challenges [7] - The company processed over $165 billion in payments volume, an increase of over 225% from 2024 [6] Market Data and Key Metrics Changes - Total loans as of December 31, 2025, were $3.7 billion, a 4% increase from the linked quarter but a 10% decrease from the previous year [26] - Total deposits as of December 31, 2025, were $4.8 billion, representing a 2% decrease compared to both September 30, 2025, and December 31, 2024 [26] Company Strategy and Development Direction - The company is focused on a digital-first banking model, emphasizing operational efficiency and disciplined expense management [5] - Strategic sale of approximately $850 million in single-tenant lease financing loans to Blackstone improved capital position and reduced exposure to lower-yielding assets [6] - The company aims to enhance credit quality by prioritizing higher credit quality borrowers in its SBA production, projecting a more measured production of approximately $500 million for 2026 [13] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to deliver strong financial performance while building long-term shareholder value [11] - The company anticipates continued loan growth of 15%-17% in 2026, driven by strong pipelines across commercial lending verticals [27] - Management expects credit conditions to stabilize as problem loans are resolved and enhanced underwriting standards take effect [10] Other Important Information - The company recognized a provision for credit losses of $12 million in Q4 2025, primarily due to net charge-offs [25] - Non-performing loans increased to $58.5 million, with a ratio of 1.56% of total loans, primarily related to SBA guaranteed balances [25] Q&A Session Summary Question: What is the expected yield on SBA loans retained on the balance sheet? - Management indicated that they expect to hold an additional $94 million of guaranteed SBA loans on the balance sheet, priced at prime plus 1.5 [42] Question: What are the expectations for deposit repricing in the first half of the year? - Management expects continued decreases in deposit costs, particularly in the first quarter, due to maturing CDs and lower market rates [39][40] Question: What is the outlook for net charge-offs relative to the provision guidance? - Management indicated that approximately half of the provision guidance would be for charge-offs, with expectations for elevated levels in the first half of the year [60][61]

Financial Data and Key Metrics Changes - The company's Fourth Quarter GAAP net income was $9.1 million, or $1.15 per share, which includes a $1.5 million one-time adjustment related to tax provisions [3][9] - Excluding the one-time adjustment, operating income for the quarter was $10.7 million, or $1.36 per share [3][13] - Pre-provision net revenue return on average assets was 180 basis points, an increase of 10 basis points from the prior quarter and 75 basis points from Q4 of 2024 [4][9] - Net interest margin expanded to 340 basis points, up 6 basis points from the prior quarter [9][10] - The efficiency ratio improved to 50.8% from 51.4% in the prior quarter [8] Business Line Data and Key Metrics Changes - The SBA division contributed significantly to non-interest income, with $2.2 million in gains on sale for the quarter, leading to a total of $5.1 million for the year [7][11] - Loan production remained strong, with $240 million of new loans funded in the Fourth Quarter, totaling $758 million for the year [6][9] - Net loan growth for the quarter was $122 million, with a total of $134 million for the year, representing 5% annual growth [7][9] Market Data and Key Metrics Changes - Floating-rate loans comprised 38% of the total loan portfolio at year-end 2025, up from 23% at the end of 2024 [5] - Average low-cost deposit balances increased by $22 million, or 5%, over the prior quarter and by $86 million, or 21%, compared to Q4 of 2024 [5][11] Company Strategy and Development Direction - The company aims to strengthen credit, improve the funding mix, build non-interest income, and generate high-quality growth while investing in people and technology [14][15] - The focus on diversified recurring revenue sources is yielding positive results, particularly with the growth of the SBA division [14] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in entering 2026 with a strong position and anticipates loan growth of 4%-5% and net interest income in the range of $111 million-$112 million [15] - The company expects non-interest income to increase to approximately $11 million-$12 million and total non-interest expense to be between $64 million-$65 million [15] Other Important Information - The allowance for credit losses stands at 108 basis points of total loans, with coverage of non-performing loans increasing to 188% [12] - The effective tax rate for the full year 2025 was 27.4%, influenced by a one-time tax expense, with an expected future rate of approximately 25% [13] Q&A Session Summary Question: Loan growth expectations for 2026 - Management indicated that loan growth is expected to pick up in 2026, driven by a balance of payoffs and new originations [18][19] Question: Composition of the loan pipeline - The loan pipeline is currently 60% C&I and 40% Investor CRE, with expectations to continue strong C&I real estate originations in 2026 [24] Question: Low-cost deposit growth expectations - While no specific guidance was provided, management expects steady improvement in low-cost deposits, which grew 5% from the previous quarter and 21% year-over-year [28][30] Question: SBA originations outlook for 2026 - The company anticipates achieving significant SBA originations in 2026, building on the first full year of the SBA division's operations [42] Question: Expense growth drivers for 2026 - Expense growth is expected to be driven by investments in people and processes, with a headcount increase of over 10% in the previous year [48][51]

Financial Data and Key Metrics Changes - Q4 GAAP net income was $9.1 million, or $1.15 per share, including a $1.5 million one-time tax adjustment; operating income was $10.7 million, or $1.36 per share [3][4] - Pre-provision net revenue return on average assets was 180 basis points, up 10 basis points from the prior quarter and 75 basis points from Q4 2024 [4][9] - Net interest margin expanded to 340 basis points, a 6 basis point increase from the prior quarter [9][10] - Efficiency ratio improved to 50.8%, compared to 51.4% in the prior quarter [8] Business Line Data and Key Metrics Changes - Net loan growth for Q4 was $122 million, with full-year growth of $134 million, representing 5% annual growth [7][9] - Non-interest income increased to $3.4 million, driven by $2.2 million of SBA gain on sale income, a 35% increase from the linked quarter [11] - SBA originations totaled $24 million in Q4, contributing to $68 million of total originations for the year [7][9] Market Data and Key Metrics Changes - Floating-rate loans comprised 38% of the total loan portfolio, up from 23% at the end of 2024 [5] - Average low-cost deposit balances increased by $22 million, or 5%, over the prior quarter and by $86 million, or 21%, versus Q4 2024 [5][9] Company Strategy and Development Direction - The company aims to strengthen credit, improve funding mix, build non-interest income, and invest in technology and people [15][16] - The focus on diversified recurring revenue sources is yielding positive results, particularly in the SBA division [15] - The company anticipates loan growth of 4%-5% and expects net interest income to be in the range of $111 million-$112 million for 2026 [16] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's position heading into 2026, highlighting improvements in credit quality and funding mix [15][16] - The company expects to continue benefiting from a favorable repricing of time deposits over the next 12 months [10][12] Other Important Information - The allowance for credit losses stands at 108 basis points of total loans, with coverage of non-performing loans increasing to 188% [11][12] - The effective tax rate for the full year 2025 was 27.4%, influenced by a one-time tax expense [14] Q&A Session Summary Question: Loan growth expectations for 2026 - Management indicated that loan growth is expected to pick up in 2026, driven by a balance of payoffs and new originations [19][21] Question: Composition of the loan pipeline - The loan pipeline is currently 60% commercial and industrial (C&I) loans, with a focus on maintaining strong C&I real estate originations [25] Question: Expectations for low-cost deposit growth - While no specific guidance was provided, management expects steady improvement in low-cost deposits, which grew 5% from the previous quarter [29][31] Question: SBA originations outlook for 2026 - Management anticipates significant growth in SBA originations, aiming for around $100 million to achieve non-interest income targets [39][43] Question: Drivers of expense growth in 2026 - Expense growth is expected to be driven by investments in people and processes, with a headcount increase of over 10% in the past year [49][52]

Financial Data and Key Metrics Changes - The company reported an increase in operating net income of $675,000 compared to the third quarter, driven by strong operating performance and the completion of the TC Federal acquisition [3][15] - Operating return on assets (ROA) achieved 1% for the fiscal year 2025, with a target of reaching 1.20% in 2026 [4][15] - Net interest margin increased by 15 basis points to 3.32% in the fourth quarter, with net interest income rising approximately $3.2 million compared to the prior quarter [15][16] Business Line Data and Key Metrics Changes - Core loan growth for 2025 was 10.5%, with expectations for 2026 to be closer to the lower end of the 8%-12% target due to increased competition [5][23] - Non-interest income for the fourth quarter was $11.1 million, reflecting strong performance in mortgage and SBSL lines [17] - Operating non-interest expenses increased to $24.4 million, primarily due to the TC Federal acquisition [19] Market Data and Key Metrics Changes - Deposits increased for the quarter, with organic growth being flat year-over-year, excluding the TC Federal acquisition [7][24] - The company is focused on building a deposit-first culture, with a strategy to grow core customer relationships [7][24] - The Southeast regional economy remains strong, contributing to competitive pricing in the market [44] Company Strategy and Development Direction - The company is actively pursuing M&A opportunities, with plans to announce another transaction in 2026 [14] - The transition to a dual-employee model for financial advisors is expected to enhance income opportunities and improve earnings power [11] - The company aims to maintain disciplined expense management while executing strategic initiatives to improve operating efficiency [20] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the future, citing strong operating performance and the successful integration of TC Federal [3][14] - The competitive landscape is becoming more challenging, but the company is focused on maintaining margin improvement while pursuing growth [44][48] - Management expects to see improvements in non-interest income and deposit growth as rates stabilize [7][52] Other Important Information - The board declared an increase in the quarterly dividend to $0.12 per share, marking another consecutive year of dividend increases [12] - The company was recognized as one of American Banker's Best Banks to Work For in 2025, reflecting its commitment to culture and team members [13] Q&A Session Summary Question: Insights on small business lending and charge-offs - Management acknowledged that small business lending is high-risk but can yield better returns, with expectations for improvement in the coming years [31][32] Question: M&A competition and strategy - Management hopes for negotiated transactions rather than competitive bids, focusing on partnerships that align with their strategic goals [34][36] Question: Organic growth and competitive environment - Management noted that while organic growth may slip towards the lower end of guidance, they are focused on maintaining margin improvement despite increased competition [44][46] Question: Deposit growth and funding loan growth - Management is optimistic about organic deposit growth, emphasizing a focus on non-interest-bearing accounts and relationship building [52][53] Question: Geographic expansion and target size for M&A - Management is open to expanding into contiguous states and is prepared to pursue larger transactions, although smaller deals may be more frequent due to market conditions [58][60]

Financial Data and Key Metrics Changes - The company reported a net income increase of $675,000 in the fourth quarter, driven by the TC Federal acquisition and improved margins [3][15] - Operating pre-provision net revenue improved significantly compared to the fourth quarter of 2024 [15] - Net interest income increased by approximately $3.2 million compared to the prior quarter, with net interest margin rising 15 basis points to 3.32% [15][16] - The tangible common equity (TCE) ratio at the end of the quarter was 8.30%, up from 8% in the prior quarter [25] Business Line Data and Key Metrics Changes - Core loan growth for 2025 was reported at 10.5%, with expectations for 2026 to be closer to the lower end of the 8%-12% target [5][23] - Operating non-interest income for the fourth quarter was $11.1 million, reflecting strong performance in mortgage and SBSL [17] - The company executed a portfolio mortgage pool sale of around $10 million, generating a gain of over $100,000 [7] Market Data and Key Metrics Changes - Deposits increased for the quarter and were organically flat year-over-year, excluding the TC Federal acquisition [6][24] - The company noted increased competition in lending across its footprint, impacting loan growth expectations [5][36] Company Strategy and Development Direction - The company is focused on integrating the TC Federal acquisition and expects to realize cost savings post-systems conversion in the second quarter of 2026 [8][26] - There is an ongoing strategy to enhance performance through disciplined execution and improvement, with a focus on M&A opportunities [12][13] - The company aims to maintain a disciplined approach to pricing and credit while growing core customer relationships [5] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the economic environment in the Southeast and the potential for M&A activity to drive growth [39][48] - The company anticipates a modest increase in net interest margin throughout 2026, supported by loan repricing and deposit growth [24][45] - Management acknowledged the competitive landscape and the need to balance growth with margin improvement [36][40] Other Important Information - The board declared an increase in the quarterly dividend to $0.12 per share, marking another consecutive year of dividend increases [11] - The company was recognized as one of American Banker's 2025 Best Banks to Work For, highlighting its commitment to culture and team members [12] Q&A Session Summary Question: Concerns about small business lending and charge-offs - Management acknowledged that small business lending is high-risk but can offer better returns, and they expect it to improve from current levels [28][29] Question: M&A competition and strategy - Management hopes for negotiated transactions rather than competitive bidding, focusing on partnerships that align with their goals [31][33] Question: Organic growth and competitive environment - Management noted increased competition but emphasized a disciplined approach to pricing and maintaining margins [36][38] Question: Deposit growth and funding loan growth - Management is optimistic about organic deposit growth and plans to leverage non-interest-bearing accounts to fund loans [42][44] Question: Future M&A targets and geographic expansion - Management is open to pursuing larger targets and expanding into contiguous states, while also considering the competitive landscape [46][48] Question: Effective tax rate and expense management - Management expects the effective tax rate to remain around 21% and aims to reduce net operating expenses to historical averages later in the year [50]

Financial Data and Key Metrics Changes - Core EPS for Q4 2025 was $0.43 per share, exceeding consensus estimates, with a net interest margin (NIM) of 3.98% and a core return on assets (ROA) of 1.45% [4] - Average deposits grew by 2.8% and total loans increased by 1.2% in Q4, with net interest income rising due to an expanded margin [4][15] - For the year 2025, core EPS was $1.53, up from the consensus estimate of $1.40, and net interest income reached $427.5 million, an increase of $47.2 million year-over-year [8][10] Business Line Data and Key Metrics Changes - Fee income constituted 18% of total revenue, with a focus on growing this through a regional banking model, although it remained flat due to seasonal declines in wealth and mortgage services [6][9] - The provision for credit losses decreased by $4.3 million to $7 million, with non-performing loans (NPLs) increasing slightly to 94 basis points [6][7] - Core non-interest income for Q4 was $24.3 million, down $200,000 from the previous quarter, with SBA gain on sale income increasing but offset by declines in other areas [15] Market Data and Key Metrics Changes - Average deposit growth for the year was 6.1%, with significant contributions from money market accounts and CDs, while non-interest-bearing deposits also increased [9] - The company reported a loan growth of 8.2% annualized for the year, with commercial banking and equipment finance leading the growth [8][9] Company Strategy and Development Direction - The company aims to maintain a focus on low-cost deposit growth and diversify its lending businesses, with a strategic exit from certain markets to concentrate resources elsewhere [10][13] - The acquisition of CenterBank was completed, contributing to overall deposit growth and positioning the company for future expansion [10][12] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in maintaining a strong NIM, projecting it to drift upward to around 4% by the end of 2026, despite anticipated short-term dips due to rate cuts [12][38] - The company is focused on managing credit costs and maintaining strong reserve levels, with expectations for stability in provisions and charge-offs [21][22] Other Important Information - The company repurchased $23.1 million of its stock in Q4, with a total of 2.1 million shares repurchased in 2025 [7][16] - Management indicated that operational expenses are expected to increase by approximately 3% year-over-year, with a focus on maintaining operating leverage [16][40] Q&A Session Summary Question: Credit side impact and loan issues - Management provided guidance on charge-offs at 25-30 basis points and noted that the dealer floor plan loan issue is nearing resolution with a remaining balance of $2.5 million [20][21] Question: Loan growth expectations - Management expects loan growth to continue at a rate of 5-7%, despite elevated payoffs in the previous year [28][29] Question: Buyback strategy - The company will be cautious with buybacks, sensitive to stock price movements, and intends to utilize its capital effectively [30][31] Question: NIM sustainability - Management discussed the potential for NIM to hover around 4% in 2027, with expectations for deposit costs to decrease further [55][56] Question: Securities yields outlook - The securities portfolio is expected to yield around 4.5% to 4.75%, with opportunities for reinvestment as the portfolio rolls over [76][79]