So that led to wanting to tap the brokered market which we actually tapped largely in February. But going forward I wouldn’t anticipate us needing to tap the brokered CDs markets and instead we’re just going to focus on some of our internal rate break products and promotions that we have in place to a fund loan growth in the future. Manuel Navas Okay. And then in your disclosure that uninsured deposits kind of declined I guess around $300 million, was that just through normal exits, loss of market share or did you use litigation programs like the IntraFi Network ICS? Could you just talk about that for a moment? Curt Myers Yeah, it was a little bit of a – IntraFi deposits grew a little bit, but some of it was just kind of normal seasonality of some of those larger customer basis.
We typically see some run down in the first quarter and some of our uninsured deposits. Manuel Navas That actually probably brings up my last question. Is most of the mixed shift customers moving things around within the firm? You are not losing, you’re not seeing customer’s exit, things like that just touch on that. Curt Myers No, we saw net account and household growth in the first quarter. So I would say it is largely more – some of them taking money out of either low or zero cost money and placing them you know with us, with other products. In some cases you have them going to other banks for higher rate products. But then in some cases our promotions are winning new customers.Manuel Navas Okay, that’s helpful. And the age of your customer base across the accounts, that was really good disclosure.
Just kind of on a separate topic, what would kind of drive you to restart buybacks? Mark McCollom As we look at capital, as things settled now, we get more clarity as we move forward. We have $60 million remaining in that authorization. We would utilize that if it’s appropriate, but in this environment we’re still looking at capital preservation and stability first. But we feel we are in a good position and at some point would reengage in that activity. Manuel Navas Thank you very much.Operator Thank you. One moment for our next question. Our next question comes on the line of David Bishop from Hovde Group. David Bishop Yeah, good morning gentlemen.A – Curt Myers Hey David!David Bishop Hey! A quick question maybe on the turning the prism a bit on the loan side of the equation.
Just curious what you’re seeing in terms of new origination yields this quarter and maybe where you see those yields trending to? Mark McCollom Yeah so, it’s obviously going to vary. David, this is Mark. Between product class, on the commercial side, our C&I in the first quarter, so we’re kind of hovering right around 7% for new origination there. A little bit off that number, maybe 25 basis points or so off that number on commercial real estate and then on the mortgage side we’re going to average for our own production. We’re going to average in kind of the 5.5 to 5.75 range for adjustable rate mortgages right now. And then other consumer classes, you know depending on whether it’s indirect versus other consumer classes are going to be higher.
David Bishop Got it. In terms of – sort of a holistic question there. In terms of, as you look at the loan pipeline and ability to pass on the higher pricing, the higher yields, is that impacting the pipeline or the quality of loans or the number of loans. It’s sort of can cash flow, you know debt service coverage loan-to-value in terms of what’s happening from a broader macro environment. I guess another way of questioning it, is it getting tougher to find quality loans that sort of pass the credit underwriting and pricing there.Curt Myers Yeah, it’s Curt. We do not change our credit standards and if anything, are tightening credit standards, so we don’t allow that to happen. From a pricing standpoint, we’re really focused on risk adjusted returns and we need to get the appropriate pricing given the risk in each of these buckets as we move forward.
So we will see pricing continue to move up, to get our risk adjusted return and we will hold or even tighten credit standards in certain buckets.David Bishop Got it. And then one final question, just curious if you can disclose the broker deposits rates. Just curious if you had any sort of color you could add in terms of duration and average cost of those funds. Thanks. Mark McCollom Yeah sure. We raised them in three separate trenches throughout quarter and we specifically went out of market. So these are retail customers, but they are not in our five state footprint at all and the coupons of those and duration, they are going to mature in early 2023. So these are all generally between nine and 13 months with coupons reaching the trenches between $470 million and $530 million for the last trench, which is only about $200 million.
So, the majority of it came in a little bit below 5%.David Bishop Got it. I appreciate the color. Operator Thank you. I would now like to turn the conference back over to Curt Myers for closing remarks.Curt Myers Well, thank you again for joining us today. We hope you’ll be able to be with us when we discuss second quarter results in July. Thank you all.Operator This concludes today’s conference call. Thank you for participating. You may now disconnect.
