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- **Record financial performance**: 65% YoY net income growth to $7.5 million, fueled by $101 million loan originations and deposit expansion.
- **Cost efficiency**: Spot deposit cost down 4 basis points to 1.25%, with further declines expected.
- **Pipeline momentum**: Q4 loan pipeline up from Q3, supported by new hires and strong CRE demand.
- **Shareholder returns**: $1.1 million share buyback and $0.25 dividend, despite cautious HTM restructuring.

**【CEO Summary Section】**
- **Strong financial performance**: Net income increased 65% YoY to $7.5 million, driven by loan and deposit growth, net interest margin expansion, and expense management.
- **Loan origination record**: Total originations of $101 million (including $69 million funded), the highest since Q2 2022, with diversified CRE demand meeting underwriting standards.
- **Deposit growth**: Total deposits increased due to new relationships and existing client balance expansion, despite a 1 basis point rise in cost of deposits.
- **Share buyback**: Repurchased $1.1 million in shares below tangible book value, enhancing shareholder value.

**【CFO Financial Commentary】**
- **Net interest income growth**: $28.2 million, up from prior quarter, due to higher earning assets and a 17 basis point asset yield increase.
- **Deposit cost improvement**: Spot cost of deposits declined 4 basis points to 1.25% in Q3, with further declines to 1.24% as of October 23.
- **Expense management**: Noninterest expenses slightly down, with no credit loss provision needed due to strong asset quality.
- **Capital strength**: Total risk-based capital ratio of 16.13% and TCE ratio of 9.72%, supporting dividend payout of $0.25 per share.

**【Q&A Highlights】**
- **Deposit sensitivity**: 31% beta on interest-bearing deposits, with $76 million in HTM securities maturing for reinvestment at higher rates.
- **Loan competition**: Aggressive pricing for high-quality deals, with cautious approach to nonrecourse structures.
- **Pipeline strength**: Q4 loan pipeline larger than Q3, with new hires in Sacramento driving growth.
- **Payoff dynamics**: $24 million in commercial loan payoffs, only $2 million from third-party refinancing, rest from cash deleveraging or workouts.

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