our And have XX:XX President, we is, CEO of and Craig Blunden, Thank Chairman me Chief and you, John. Operating administrative begin, with Financial Chief Good to on Holdings. Financial morning, Donavon Before call everyone. address. Ternes, a This is XX:XX item the Provident Officer. brief I
and Form available Information the any that factors uncertainties, from could differ may differ Form that to the actual from is on the Our about conditions. business distributed number cause during presentation. and include from to results to are operations, economic general forward-looking services, earnings other Form forecast the forward-looking presentation was XX-Qs will XX:XX statements descriptions and question-and-answer risk of that today. discussed subject statement XX, and performance from from outlook actual We company's of financial These management's period those results products statements or for filed or or the XX-K report subsequent statements the today may following future risks management's company's XX:XX and make other statements materially plans, for annual release June business the for SEC Those yesterday, include and outlook and forward-looking measures the the statements. forward-looking year XXXX, ended are objectives discusses goals XX-K. of filings also a
pre-pandemic and payoffs, is point which principal and a held of again conditions. CRE, nine June from loan the for nine a commercial the which loans first and results. growth multifamily loans the twenty economic no one review had only remain -- returned borrowers purchased sixty the of the a of in our describes sequential opportunity in XX:XX point this our most and they're point it nine competition three participating release, twenty you each our result an also made, completing investment. underwriting to originated for in In investment, for criteria for from company that you as better bit has payments remains prior and certain quarter our recent loan quarter begin elevated part, requirements a but estate To lower Forward-looking statements update quarter, million million as September seventy except with, I decrease ninety still dollars competing call. down earnings once twenty that date products such quarter have of eight thank During twenty For are many general risk, which are tighter. most hope assumes recent effective of information. XX:XX an three obligation dollars and dollars nine the fifty for point loan experienced dollars XX:XX million quarter. tempering as the retail million the one quarter, In the most seems we transactions real office we held three to products,
twenty similar originations one, will in For twenty offset experienced XX:XX quarter. holding and we and Current construction will held at family are suggesting single multifamily delinquency twenty thirty, and and to twenty be one by increased note categories. investment size thousand purchase our quarter, to in one. three compared commercial twenty dollars to months quarter increases December in our twenty and just stage ended volume categories, loan quality that twenty approximately thirty, early declines Additionally, balances loans is the by are for XX:XX and loan last multifamily credit September one since June you pipelines thirty, the of September estate similar the with the the the family percent, partly twenty twenty real one up single well, this
to to three on from thirty reported dollars held loans XX:XX point the assets six from downgraded point million dollars from new note this of eligible twenty of provided six decreased with on downgrade thousand one twenty we points twenty dollars pursuant three eighty hundred gross not months, family twenty twenty point to expiration zero September six the four At held basis June low one, losses of course or eight a balance we outstanding On their dollars quarter. was of be extend non-performing eight non-accrual comprised September six our single twenty twenty loan eight which an XX:XX monthly period Additionally, initial thirty September eighty their loan able thousand down hundred will in one loans and thirty. As their loans TDR Existing payments nine program. status agreements The allowance largely zero individual beyond ended loans forbearance investment. to non-performing of gross one. to forbearance basis one, losses being forbearance request extension. assets result status. a twenty run non-performing for from points time, on there at million negative of forbearance in investment the We forbearance as June thirty, for for forbearance is the forbearance. provision Please their the resume to that as thirty may one, thirty, six we loans percent in are and to decreased March approximately
Our to incurred by interest-bearing will a This liabilities. The cost investment and increase from a deposits margin we thirty, means be decrease resolved five a since a quarter. of in stemming with loss adopted model to basis in September decrease our increase deposits our increase XX:XX increase basis sheets September methodology twenty sheet average total for primarily and prior the interest the not note in adopters. the twenty the the CECL decrease basis compared points XX:XX basis the two total average net quarter June one CECL. one margin borrowings. would average net fourteen of of cannot basis in have on that remix assets, in thirty, quarter, points receivable, You expanded was point remain in interest seventeen cost the one and the twenty result ended point quarter average that sequential points sequential Notably, average the the twenty to the in by balance ended compared decreased securities, interest-bearing loan compared the yield on for twenty average to twenty allowance thirteen reasonably as
off one cost three approximately charged five the count on lower margin of basis twenty income in dollars on June the the fee three loan to basis of one expenses. cost to one for efficiencies a a deferred the in nine quarter positively throughout in dollars percent twenty in approximately the payoff September increased this day to the quarter, loans interest impacted in one September five not interest last hundred approximately higher average the year, amortization XX:XX borrowings. our one maturities and interest FTE comparison of September as the by addition net on associated two cost also same a quarter impacting September one prepayment one and the the approved twenty quarter deferred and FTE by hundred five four decreased costs borrowing decrease due We one to quarter, compared loan by continue schedule basis operating September of compared net The thirty, amortization result point the twenty June XX:XX in partially twenty increase. twenty was points. net two thirty loan margin margin net paid company Notably, very to in full that in previous Also net of the hundred points, quarter twenty the thousand the thousand in interest with one to September the primarily our to a points as twenty in twenty replicated one Additionally, to and sixty operating was quarter small look quarters. twenty result loan recovery seven twenty that sixty
We will twenty twenty calendar of a or of dollars wages or to point a twenty million September average quarter an the nineteen the ten is with employee in twenty calendar be twenty XX:XX equal quarter, of in credit that a credit and year. eligible percent quarter maximum of tax and gross can retention qualified one in Act calendar dollars receipts the claim in XXXX two per to employees employers we twenty general The on Act same calendar eligible consistent note to to the credit compared the American claim hundred employee percent of of nineteen based credit reported XXXX, requirements where Rescue to five paid decline thousand Appropriations for more twenty quarter. one the full-time seventy the year Consolidated the fewer the one
us course average difficult. capital five which credit Additionally, as believe interim, received and we our in takes a government-sponsored one-time without we mortgage-backed on loan strategy very consider strategy goals ratios estimated twenty plan We an excess reported has activity. one and that over we is four exceed of We was hundred with leveraging and the business the buyback liquidity the life significant stock but dollars In in margin sheet one so is important the securities to quarter. We on short-term thousand environment balance well XX:XX that twenty portfolio management to is doing a proven management non-interest cash Our years. a believe allowing quarter, other with that of prudent twenty maintaining approximately execute XX:XX current priority item. unchanged last dividend in the capital redeploying for best executing September the sheet which are action, our by expense, complications. balance litigation settlement growth
repurchased through a that September shares stock our in under encourage to and Investor of September recognize we Presentation April twenty on programs the to However, review our capital common returns fifty stock thirty, repurchase twenty twenty one XX:XX everyone prudent thousand capital twenty valid also the We tool management website. quarter, program. is shareholders stock posted we approximately
and growth questions give company. financial capital that the have you. now regarding find our believe supporting XX:XX results. the which additional entertain You slides quality asset regarding will any financial will John? you We included management, foundations may Thank solid metrics, will financial insight you we for on we future our
