Question-and-Answer Session
Operator
Thank you, sir. Ladies and gentlemen we will now begin the question-and-answer session. (Operator Instructions). And our first question comes from Scott Siefers, Sandler O'Neill. Go ahead please.
Scott Siefers - Sandler O'Neill
Good afternoon guys.
Paul Beideman
Hi Scott.
Scott Siefers - Sandler O'Neill
I just had a few questions, might jump around a bit, probably you addressed the margin and kind of the volatility that was created by interest rate movements. I wonder if you guys would be comfortable giving the margin maybe by month given that's where sort of where it settled out towards the ends of the quarter?
Paul Beideman
I can tell you that it was a little lower in December than it was in November and if you think about it one month LIBOR in October was 4% and in December it was four tenths of 1%. So, that type of volatility drives it, but it was high really through all three months and it's still a challenge to predict how it's going to play out with this kind of volatility. But it was slightly higher in October than it was in December.
Scott Siefers - Sandler O'Neill
Okay. And then if I can jump over to credit for a second. I guess I would just like to get a little bit more of a sense for sort of the mix of any deterioration you've seen?
Paul Beideman
Sure.
Scott Siefers - Sandler O'Neill
Kind of construction versus other. Might you be able to sort of say how much in the fourth quarter of your charge-offs was construction related versus other.
Paul Beideman
Yes.
Scott Siefers - Sandler O'Neill
And how would that compare to maybe, say the third quarter?
Paul Beideman
Sure. I'll be happy to do that. The lion's share of the increasing non-performance loans and in the charge-offs both were in C&I and in fact $22 million of the $30 million of non-performers were one large C&I loan. Construction and I'm not going to call this a trend, but you've got to have one quarter before you can have a trend; constructions were down almost 10% and construction charge-offs were down as well.
So, I categorize our C&I losses as choppy. And its going to be very credit-by-credit related. In one quarter well, they'll be elevated in the next quarter it'll be lower. And we don't see like a sustained mass of deterioration there. So this quarter we had one large credit with a $5 million charge-off and a $20 million remaining component to non-performing. And that's been a major driver of the metrics. Our CRE portfolio, the non-construction CRE portfolio had a tick-up in non-performers but the charge-offs were down slightly. Mortgage charge-offs flat as a pan cake from equity charge-offs of a small amount. So really the delta is this one large C&I credit. C&I charge-offs in the third quarter were $8 million and the fourth quarter were $15.
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