Bankwell Financial Group Inc (BWFG) 2026 Q1 法說會逐字稿

Thank you for standing by. My name is Tina, and I will be your conference operator today. At this time, I would like to welcome everyone to the BankWill Financial Group, Inc.'s first-quarter 2026 earnings call.

感謝您耐心等候。我叫 Tina，今天將擔任本次電話會議的接線員。此刻，我謹代表 BankWill Financial Group, Inc.，歡迎各位參加 2026 年第一季財報電話會議。

All lines have been placed on mute to prevent any background noise.

為避免任何背景雜音，目前所有線路皆已設為靜音。

After the speaker's remarks, there will be a question-and-answer session.

在講者致詞結束後，將進行問答環節。

To ask a question, simply press star one on your telephone keypad. To withdraw your question, press star one again. It is now my pleasure to turn the call over to Courtney Sacchetti, Executive Vice President and Chief Financial Officer. You may begin.

如欲提問，請在電話鍵盤上按星號 1。如欲取消提問，請再次按星號 1。現在我很榮幸將電話交給執行副總裁兼財務長 Courtney Sacchetti。您可以開始了。

Thank you. Good morning, everyone. Welcome to BankWell's first-quarter 2026 Earnings Conference Call. To access the call over the Internet and review the presentation materials that we will reference on the call, please visit our website at investor.mybankwell.com and go to the Events and Presentations tab for supporting materials. Our first-quarter earnings release is also available on our website.

謝謝。各位早安。歡迎參加 BankWell 2026 年第一季財報電話會議。如欲透過網路收聽並查閱我們在會議中將引用的簡報資料，請造訪 investor.mybankwell.com，並前往「Events and Presentations」分頁取得相關資料。我們第一季財報新聞稿亦已公布於本公司網站。

Our remarks today may contain forward-looking statements and may refer to non-GAAP financial measures.

我們今天的發言可能包含前瞻性陳述，並可能提及非 GAAP 財務衡量指標。

All participants should refer to our SEC filings, including those found on Forms 8-K, 10-Q and 10-K, for a complete discussion of forward-looking statements and any factors that could cause actual results to differ from those statements.

所有與會者請參閱我們向 SEC 提交的文件（包括 8-K、10-Q 與 10-K 表格所載內容），以取得關於前瞻性陳述的完整討論，以及任何可能導致實際結果與該等陳述不同的因素。

And now, I will turn the call over to Chris Grisecki, BankWealth's Chief Executive Officer.

接下來，我將把電話交給 BankWealth 的執行長 Chris Grisecki。

Thanks, Courtney.

謝謝，Courtney。

Welcome, and thank you to everyone for joining Banklo's quarterly earnings call. This morning, I'm joined by Courtney Cicchetti, our Chief Financial Officer, and Matt McNeil, our President and Chief Banking Officer.

歡迎各位，並感謝大家參加 Banklo 的季度財報電話會議。今天早上與我一同出席的有財務長 Courtney Cicchetti，以及總裁兼首席銀行業務長 Matt McNeil。

We appreciate your interest in our performance, and I'm excited by this opportunity to discuss our results with you.

感謝各位對我們營運表現的關注，我也很高興能藉此機會與各位討論我們的業績。

We've delivered a solid start to 2026 with strong earnings, continued balance sheet improvement, and continued progress in our strategic priorities.

我們在 2026 年取得穩健開局：獲利強勁、資產負債表持續改善，且在策略重點上持續取得進展。

For the first quarter, we reported GAAP net income of $11.3 million or $1.41 per share.

第一季我們依 GAAP 認列淨利 1,130 萬美元，或每股 1.41 美元。

These results were supported by solid loan production, strong fee income from our SBA platform, lower funding costs, meaningful core deposit growth and ongoing balance sheet optimization, including reduced reliance on wholesale funding and continued progress on building a more interest rate neutral balance sheet.

本季成果受多項因素支撐，包括穩健的放款承作量、SBA 平台帶來的強勁手續費收入、較低的資金成本、顯著的核心存款成長，以及持續的資產負債表優化（包含降低對批發資金的依賴，並持續推進打造對利率更中性的資產負債表）。

Loan growth remained positive during the quarter with $190 million of originations, including $34 million of SBA production, resulting in net loan growth of $27 million. On an annualized basis, this level of growth is consistent with our previously communicated guidance of 4% to 5% for the full year, and our pipeline remains strong.

本季放款成長維持正向，新增承作 1.90 億美元（其中 SBA 承作 3,400 萬美元），使淨放款成長 2,700 萬美元。以年化計算，此成長水準與我們先前對全年 4% 至 5% 的指引一致，且我們的案源管線仍然強勁。

Importantly, this growth is supported by strong core deposit inflows.

重要的是，這項成長由強勁的核心存款流入所支撐。

Core deposits increased by $113 million sequentially, with $39 million coming from low-cost deposits.

核心存款較前一季增加 1.13 億美元，其中 3,900 萬美元來自低成本存款。

Included in that $39 million is $24 million of growth in analyzed checking balances for an 8% increase on the quarter.

在該 3,900 萬美元之中，包含分析型支票（analyzed checking）餘額成長 2,400 萬美元，使本季增幅達 8%。

In addition to funding our loan growth, we've also reduced broker deposit balances and Federal Home Loan Bank borrowings by a combined $95 million, further improving our funding mix.

除為放款成長提供資金外，我們也將經紀存款餘額與聯邦住房貸款銀行（FHLB）借款合計減少 9,500 萬美元，進一步改善我們的資金結構。

Since our peak at the end of 2022, we have successfully reduced our broker deposits by $513 million for a 50% decline.

自 2022 年底達到高峰以來，我們已成功將經紀存款減少 5.13 億美元，降幅達 50%。

The net interest margin was 328 basis points, reflecting modest pressure from asset repricing as floating rate loans reset lower and an unfavorable day count impact relative to the prior quarter. These factors were partially offset by continued improvement in deposit costs. Which declined 5 basis points sequentially to 310 basis points.

淨利差為 328 個基點，反映資產重訂價帶來的溫和壓力（浮動利率放款重設至較低水準），以及相較前一季不利的天數計算影響。上述因素部分被存款成本持續改善所抵銷。存款成本較前一季下降 5 個基點至 310 個基點。

Non-interest income remained a meaningful contributor to results totaling $3.3 million, which includes $2.4 million of SBA gain on sale income.

非利息收入仍是本季業績的重要貢獻來源，合計 330 萬美元，其中包含 240 萬美元的 SBA 出售收益（gain on sale）收入。

Our SBA division continues to be an important part of our diversified revenue strategy and a meaningful source of recurring fee income.

我們的 SBA 事業部持續是多元化營收策略的重要一環，也是經常性手續費收入的重要來源。

Credit quality remains healthy with expectations of further improvement.

信用品質維持健康，並預期將進一步改善。

While non-performing assets increased modestly to 56 basis points of total assets, we had visibility into the resolution of several credits over the coming quarters.

雖然不良資產小幅上升至總資產的 56 個基點，但我們對未來幾季內多筆授信的處理與解決具有可見度。

Overall asset quality metrics remain well within our internal expectations and reserve coverage levels remain appropriate.

整體資產品質指標仍明顯符合我們的內部預期，備抵覆蓋水準亦維持適當。

Finally, we are excited to have opened our first full-service branch in New York during the quarter, located in Bay Ridge, Brooklyn.

最後，我們很高興在本季於紐約開設首家全方位服務分行，位於布魯克林的 Bay Ridge。

The branch is home to an experienced private client banking team that joined BankWell in 2025, and the addition of this location enables the team to deliver BankWell's full suite of commercial and private client banking services on the ground in New York. I'll now turn the call back to Courtney to walk through the financial results in more detail.

該分行由一支資深的私人客戶銀行團隊進駐，該團隊於 2025 年加入 BankWell；新增此據點使團隊能在紐約當地提供 BankWell 全套的商業銀行與私人客戶銀行服務。接下來我把電話交回 Courtney，請她更詳細說明財務結果。

Thanks, Chris.

謝謝，Chris。

Starting with the income statement, net interest income totaled $26.9 million for the first quarter and was largely unchanged compared to the prior quarter. Net interest margin declined modestly to 328 basis points, driven primarily by the repricing of floating rate loans in a lower rate environment and an unfavorable day count impact.

先從損益表開始，第一季淨利息收入為 2,690 萬美元，與前一季相比大致持平。淨利差小幅下降至 328 個基點，主要受較低利率環境下浮動利率放款重訂價，以及不利的天數計算影響所致。

On a day count normalized basis, the sequential MIM variance would have been approximately 5 basis points.

若以天數計算標準化後，季對季的 NIM 變動約為 5 個基點。

These headwinds were partially offset by continued improvement in deposit costs.

上述逆風部分被存款成本持續改善所抵銷。

Total deposit costs declined to 310 basis points, down 5 basis points from the fourth quarter, and the bank exited March with a deposit cost exit rate of approximately 298 basis points.

總存款成本降至 310 個基點，較第四季下降 5 個基點；本行於 3 月底的存款成本期末（exit rate）約為 298 個基點。

During the first quarter, we successfully repriced approximately $300 million of time deposits 44 basis points lower, generating an expected annualized benefit of $1.2 million.

第一季期間，我們成功將約 3 億美元的定期存款重訂價，下調 44 個基點，預期可帶來 120 萬美元的年化效益。

In addition, over the next 12 months, approximately $1.1 billion of time deposits are expected to reprice favorably with an average rate reduction of 14 basis points. This repricing is anticipated to deliver an incremental annualized benefit of roughly $1.6 million or about 5 basis points of net interest margin.

此外，在未來 12 個月內，預期約 11 億美元的定期存款將以更有利的條件重訂價，平均利率下調 14 個基點。此重訂價預期可帶來約 160 萬美元的額外年化效益，或約 5 個基點的淨利差提升。

With respect to rate-sensitive assets, we've strategically increased the proportion of variable-rate loans from just over 20% at the start of 2025 to approximately 42% at quarter end. Additional detail on asset and liability repricing as well as rate sensitivity is provided on page 8 of the investor presentation.

就利率敏感型資產而言，我們已策略性提高浮動利率放款占比，從 2025 年初的略高於 20% 提升至季末約 42%。關於資產與負債重訂價以及利率敏感度的更多細節，請參閱投資人簡報第 8 頁。

Profitability remained solid in the quarter with return on average assets of 1.35% and a return on average tangible common equity of 15%.

本季獲利能力維持穩健，平均資產報酬率（ROAA）為 1.35%，平均有形普通股權益報酬率（ROATCE）為 15%。

As deposit repricing continues to flow through the balance sheet and interest rate sensitivity moderates, we expect incremental margin improvement over the balance of 2026, affirming our full-year net interest income guidance of $111 million to $112 million.

隨著存款重訂價持續反映於資產負債表、利率敏感度趨於緩和，我們預期 2026 年剩餘期間利差將逐步改善，並重申全年淨利息收入指引為 1.11 億至 1.12 億美元。

Non-interest income totaled $3.3 million for the quarter, reflecting $2.4 million of gains on SBA loan sales and continued growth in service fee income, driven by an expanding commercial client base.

本季非利息收入合計330萬美元，反映SBA貸款出售收益240萬美元，以及在商業客戶基礎擴大帶動下，服務費收入持續成長。

Based on our first quarter results, we are raising our full-year non-interest income guidance to $12 million to $13 million. Our pre-provision net revenue for the quarter was $13.3 million or 1.6% of average assets compared to 1.8% in the prior quarter.

基於我們第一季的表現，我們將全年非利息收入指引上調至1,200萬至1,300萬美元。本季稅前提存前淨收益（PPNR）為1,330萬美元，或占平均資產的1.6%，相較前一季為1.8%。

Our PPNR was impacted by approximately $1 million in annual non-interest expense typically incurred in the first quarter, elevating total non-interest expense to $16.9 million for the quarter.

我們的PPNR受到約100萬美元年度性非利息費用（通常於第一季發生）的影響，使本季非利息費用總額提高至1,690萬美元。

These annual costs are primarily related to employee compensation and certain professional services.

這些年度性成本主要與員工薪酬及部分專業服務相關。

Despite these seasonal expenses, our underlying non-interest expense run rate remains consistent with our prior guidance of $64 million to $65 million.

儘管有這些季節性費用，我們的基礎非利息費用運行率仍與先前指引的6,400萬至6,500萬美元一致。

The efficiency ratio for the quarter was 55.8%, which reflects the seasonality of first quarter expenses.

本季效率比率為55.8%，反映第一季費用的季節性。

Our provision for credit losses was a release of $1 million for the quarter, driven by the net impact of loan growth and economic factors embedded in our CECL model.

本季信用損失備抵提列為回轉100萬美元，主要由貸款成長與我們CECL模型中納入的經濟因素之淨影響所致。

The allowance for credit losses ended the quarter at 1.03% of total loans, with coverage of non-performing loans at approximately 155%.

本季期末信用損失備抵占總貸款比率為1.03%，對不良貸款的覆蓋率約為155%。

From a capital and liquidity standpoint, the balance sheet remained strong.

就資本與流動性而言，資產負債表仍然強勁。

Total assets ended the quarter at $3.4 billion. Deposits totaled $2.9 billion, and both the bank and holding company remain well capitalized.

本季期末總資產為34億美元。存款合計29億美元，且銀行與控股公司皆維持充足資本。

Tangible common equity was 9.17%, and our consolidated common equity Tier 1 ratio was approximately 10.58%.

有形普通股權比率為9.17%，合併普通股權第一級資本比率（CET1）約為10.58%。

We repurchased 3,317 shares during the quarter at an average price of $45.32 per share.

本季我們回購3,317股，平均回購價格為每股45.32美元。

Now, I'll turn the call back to Chris for closing remarks.

現在我把電話交回Chris作結語。

Thanks, Courtney.

謝謝你，Courtney。

In 2024, we laid out a plan to improve our funding mix, continue to grow our loan book in a disciplined manner, maintain strong credit quality, and build diversified sources of revenue.

在2024年，我們提出一項計畫，以改善資金來源結構、以審慎方式持續擴大貸款規模、維持強勁的資產品質，並建立多元化的收入來源。

We've also committed to continue to invest in our tech-forward platform while managing expenses.

我們也承諾在控管費用的同時，持續投資於我們以科技為先的平台。

We are truly gratified by the results achieved through the planning and hard work done by our team, and we thank them for their dedication.

我們對團隊透過規劃與辛勤努力所達成的成果深感欣慰，並感謝他們的投入與奉獻。

We'll continue to execute on our strategic goals and look forward to sharing the results of our continuous growth and evolution with all of our stakeholders in the quarters ahead.

我們將持續推進策略目標，並期待在未來幾季與所有利害關係人分享我們持續成長與演進的成果。

We thank our longtime customers for their continued support and welcome the many new customers who have helped us to grow our business.

我們感謝長期客戶持續的支持，也歡迎眾多新客戶加入，協助我們拓展業務。

We also appreciate the continued support and interest from our shareholders and the investment community.

我們也感謝股東與投資社群持續的支持與關注。

Now, operator, we're ready to open the line for questions.

現在，接線員，我們準備開放提問。

As a reminder, to ask a question, simply press *1 on your telephone keypad.

提醒各位，如要提問，請在電話鍵盤上按*1。

And from KBW, our first question comes from the line of Mark Shetley. Please go ahead.

首先由KBW的Mark Shetley提問。請開始。

Appreciate the detail on the CDs and how much of that's coming due. I think you said that's a five basis point benefit to the margin.

感謝你們提供CD以及到期規模的細節。我想你剛才說這對利差有5個基點的正面效益。

So I'm just curious, in this current rate environment now that it's seemingly more flat, are you seeing more competition on the deposit side?

所以我想請教，在目前利率環境看起來更趨平坦的情況下，你們是否看到存款端競爭加劇？

Because I'm just trying to get a sense for how much the overall interest rate and deposit costs can be worked down.

因為我想了解整體利率與存款成本還能下調多少。

First of all, the first part of that answer is...

首先，這個問題的第一部分答案是……

The numbers that we put in that's expected to roll with CDs is based on market on the day that as of today's market. So that implies no further cuts or any earned deposits as they roll to current, that's what the impact would be. That was the first part of your question.

我們所提供、預期隨CD到期滾動的數字，是以今天市場狀況下的市場利率為基礎。因此這意味著不假設進一步降息，或在存款到期轉換至目前水準時有任何額外的收益存款；在此情境下，影響就是那樣。這是你問題的第一部分。

This is Matt. As far as the deposit competition, it is.

我是Matt。至於存款競爭方面，確實如此。

It's very competitive out there for deposits. We're focused on bringing in low-cost deposits to bring down our funding costs, which is probably the most competitive area.

存款市場競爭非常激烈。我們專注於吸收低成本存款以降低資金成本，而這大概是競爭最激烈的領域。

However, we're finding success and have been able to substantially grow core deposits in the quarter.

不過，我們取得了成果，本季核心存款得以大幅成長。

Right. So, obviously, it's competitive and loan growth, net loan growth was. Approximately 2% quarter-over-quarter, but core loan growth was substantially higher.

對。所以，很明顯競爭激烈，而貸款成長、淨貸款成長為……季對季約2%，但核心貸款成長顯著更高。

And with the -- so it was something like 7%, $100 and Courtney?

而且就——所以大概是7%，100（百萬）以及Courtney？

Core deposit growth was $113 million. So $113 million, about $30 million of that was analyzed.

核心存款成長為1.13億美元。所以1.13億美元，其中約3,000萬美元是分析型（analyzed）。

We're not interest-bearing or low cost, so almost 30%, 25%, 30% of what we brought in this quarter.

這些是不計息或低成本的，所以我們本季新增的存款中，將近30%、25%到30%是這一類。

And with the balance.

至於其餘部分。

That didn't result in growth, we paid down more expensive borrowings. So we're happy with the deposit result despite the competitive environment. Improved mix in our deposit.

沒有帶來成長的部分，我們用來償還成本較高的借款。因此，儘管競爭環境激烈，我們對存款成果感到滿意。我們的存款結構也有所改善。

Yes.

是的。

Okay, thanks. Appreciate it. And then maybe switching gears really quick. So SPA was strong in the corner and looks like originations are tracking higher than.

好的，謝謝。感謝說明。接著我想很快換個話題。所以SBA在本季表現強勁，看起來承作量的走勢高於……

I think you previously talked about $100 million in originations for the quarter. So I'm just trying to get a sense of where you think, if there's any change to that and where SBA fits into the overall fee guide. Thanks.

我記得你們先前提到本季承作量約1億美元。所以我想了解你們對此是否有任何調整，以及SBA在整體手續費指引中的定位。謝謝。

Yes, we are having success with the SBA. We have a really strong team. We could definitely originate more SBA loans. We're choosing to keep the volume kind of level where it's at.

是的，我們在SBA方面進展順利。我們有一支非常強的團隊。我們確實可以承作更多SBA貸款。但我們選擇將量大致維持在目前水準。

We're not increasing our $100 million that we put out as how we were thinking about fee income, although other fees are coming in higher as well, so that is a reason for the increase in the fee guidance.

我們不會上調先前提出的1億美元（作為我們對手續費收入的思考基礎），儘管其他費用收入也高於預期，因此這也是我們上調費用收入指引的原因之一。

So if we wanted to do more, we could, is the answer.

所以答案是：如果我們想做更多，我們可以。

As we're two years into this, we're going to measure.

隨著我們進入這項業務的第二年，我們會進行衡量。

Got it. Appreciate it. That's it for me. So, I should take my questions.

了解。感謝。我這邊就到這裡。我會收回我的問題。

Thank you.

謝謝。

Operator.

接線員。

Operator, we're ready for the next question.

接線員，我們準備好下一個問題了。

Apologies. Our next question is from the line.Go ahead.

抱歉。我們的下一個問題來自該線路。請說。

Betty, are you there?

Betty，你在線嗎？

Yes. Sorry. I didn't hear the name, so my apologies on that.

是的。抱歉。我沒有聽到名字，所以對此致歉。

You're up, Betty.

輪到你了，Betty。

All right. Perfect. No worries. It's all good.

好的。太好了。沒關係。一切都好。

I just wanted to start by asking about the Brooklyn office. Just does that sort of serve as a home base for some of the deposit gathering teams that are in the city? And I was just curious, how much lending do you think you will do out of that office?

我想先從布魯克林辦公室問起。它是否算是你們在市區的一些吸收存款團隊的據點？另外我也好奇，你們認為會從那個辦公室做出多少放款？

I think we'll do a modest amount of lending out of the office, Seti, it wasn't the primary reason to open the office, it was definitely a deposit play, which is already taken off and been robust just in the 10-month leading up to the branch opening, the team was very active and.

我認為我們會從那個辦公室做出適度的放款，Seti；開設該辦公室的主要原因並不是放款，確實是為了存款布局，而且在分行開業前的10個月裡，這項布局已經起飛並且相當強勁，團隊非常積極，而且。

We've had good success there. Lending isn't a part of the strategy there. However, we do think that some loans will come out of it, but we've been lending in and around NYC since the existence of the bank. So it really shouldn't change a whole lot as far as like the geography where we're lending.

我們在那裡取得了不錯的成果。放款不是那裡策略的一部分。不過，我們確實認為會有一些貸款從那裡產生，但自本行成立以來，我們一直在紐約市及周邊放款。因此，就放款的地理範圍而言，實際上不會有太大改變。

I think we've said this before. This is Chris.

我想我們之前說過。我是Chris。

We don't have a plan to go and try to find branches in particular markets or make sure we have more branches, we hired the people first, and this is a very experienced private client group that's been together for years, has already had material and significant impact on our organization.

我們沒有計畫去特定市場找分行，或確保我們有更多分行；我們是先聘人，這是一個非常資深的私人客戶團隊，多年來一直在一起，已經對我們組織帶來實質且重大的影響。

If what they needed is a branch to assist in their platform, then we could build a branch. It wasn't we happened to love Brooklyn, I was born there, but we weren't going out of our way to enter that market if we were following our deposit team and their needs.

如果他們需要一個分行來協助其平台運作，那我們就可以建一個分行。並不是因為我們剛好很喜歡布魯克林——我是在那裡出生的——但如果我們是跟著存款團隊及其需求走，我們並不會刻意要進入那個市場。

That's helpful. And then just switching gears to CRE concentration, given the current trend line, is it possible we could see that get below 300% by year-end or maybe early next year, just based on what's currently in the pipeline and capital build and what have you? Or do you feel like you're kind of in a range where you're pretty comfortable and you're not as worried about crossing that 300% threshold?

這很有幫助。接著換個話題談商用不動產（CRE）集中度，考量目前的趨勢線，是否有可能在年底前或明年初降到300%以下，主要基於目前的案源管線、資本累積等等？或者你們覺得目前大致落在一個你們很舒適的區間，對跨過300%門檻沒有那麼擔心？

I'm sorry, is that the CRE concentration question?

抱歉，你是問CRE集中度的問題嗎？

Yes.

是的。

We don't have $300 million as a target. We're seeing a more diversified loan mix.

我們沒有把300%當作目標。我們看到貸款組合正變得更為多元。

It's conceivable, but it's not the plan. So you can look at the trend. Over the last year, we've come down $10 million, no more $375 million, 40 basis points.

有可能，但不是計畫目標。所以你可以看趨勢。過去一年，我們下降了10個基點，不是，從375個基點下降了40個基點。

We are happy where it is. I guess we could live with it, but I suspect over time we'll get down there. Whether it's year-end or not, I don't know, but it's been a consistent trend for a while and we're seeing a better flow of C&I deals and we haven't done much office, etc. So I think it'll naturally kind of get there, but it's not a particular goal. I wouldn't be surprised if it came down another 10, 20 basis points over the course of the year.

我們對目前的水準感到滿意。我想我們可以接受，但我猜隨著時間推移會降到那裡。至於是不是年底，我不確定，但這段時間以來一直是穩定的趨勢；我們看到更多C&I（商業與工業）案子的流入，而且我們幾乎沒有做太多辦公室類等。所以我認為它會自然地往那個方向走，但這不是特定目標。如果今年內再降10到20個基點，我也不會意外。

And then just on the credit side, it looked like the modest increase in accruals there was CRE driven. I apologize that I missed it in the open remarks, but can you speak a little bit more on maybe what drove the increase there and what you might expect on resolution of those?

另外在信用面，看起來應計款項的小幅增加是由CRE帶動的。抱歉我在開場致詞中漏聽了，但你能否多談一些是什麼推動了那裡的增加，以及你們對這些項目的處理/解決可能會是什麼樣的節奏？

Yeah, the increase was just a.

好的，增加主要就是一個。

A tenant left the building, sponsors not able to make the payment, there's equity in the deal, we think that we'll be able to work with them to dispose of the real estate and be paid there.

有一位承租戶離開了大樓，贊助商無法付款；這筆案子有股權，我們認為能與他們合作處分該不動產並在那裡收回款項。

As in Chris's comments, you heard that there is some visibility into resolution to several of the credits that are on our NPAs and we expect those to happen in the.

如同Chris的評論中你所聽到的，我們對於幾筆列在不良資產（NPA）中的授信有一定的解決能見度，我們預期這些會在。

Next couple of quarters and have some meaningful resolution and a much lower NPA number.

接下來幾個季度發生，並帶來一些有意義的處理結果，使NPA數字大幅降低。

Perfect. Thanks for taking my question.

很好。謝謝回答我的問題。

From Raymond James, your next question comes from the line of Steve Moss. Please go ahead.

下一個問題來自Raymond James，Steve Moss線路。請說。

Hey, guys. Good morning. Is Chase on for Steve?

嗨，各位。早安。Steve由Chase代為提問嗎？

Hey, guys.

嗨，各位。

On loan pricing, can you tell me where new origination yields are coming on at these days?

關於貸款定價，你能否告訴我最近新承作的收益率大概落在哪裡？

For the first quarter, our average rate was 7.5%.

第一季我們的平均利率是7.5%。

I appreciate that. And just one more for me.

了解，謝謝。我再問一個。

I thought you guys nibbled at buybacks this quarter. Can you tell us what would bring you more into that market?

我以為你們這季有小幅進行庫藏股回購。你能否說明什麼情況會讓你們更積極進入那個市場？

I'm sorry, can you repeat that? I heard buybacks and then cut out.

抱歉，你可以再說一次嗎？我聽到回購，後面就斷掉了。

Yeah, I saw you enabled that buybacks, could you tell us what would bring you more into that market?

是的，我看到你們啟動了回購；你能否告訴我們，什麼情況會讓你們更積極進入那個市場？

We look at the price quarterly or daily while we're when when we're not in blackout, we had a plan in place.

我們在非禁售期時會按季度或每日觀察股價；我們有一個既定計畫。

I expect the number will grow over the course of the year, but you'd have to look at our consolidated CEG ratio and we are still trying to grow that.

我預期這個數字在今年內會逐步增加，但你必須看我們合併的CEG比率，而我們仍在努力提升它。

If the levels we have gotten to the last couple of days and the amount of stock that we issued, I wouldn't be surprised to see us over the course of the year nibble some back, but we still need to our goal is still to get to. Percent, not necessarily by your end, on the CET1 ratio at the Holco. All right, guys. I appreciate all the color.

以過去幾天我們達到的水準以及我們發行的股票數量來看，我不會意外我們今年內會小幅回補一些，但我們仍需要——我們的目標仍是把控股公司（Holco）的CET1比率提升到百分比，不一定要在年底前達成。好的，各位。謝謝提供這麼多細節。

I have the questions that have been answered.

我想問的問題都已經被回答了。

Thank you, guys.

謝謝，各位。

Okay.

好的。

And with no further questions include, thank you. This does conclude today's conference call. You may now disconnect.

由於沒有其他問題，謝謝各位。今天的電話會議到此結束。您現在可以掛線。