Operating Good item and you. the This Craig have President, is with Before Officer. XX:XX begin, address. we of morning, Provident Chairman I Chief our Ternes, CEO is brief on Chief Financial Blunden, Financial me XX:XX administrative Thank a Donavon everyone. and to Holdings. call And
about Annual and forward-looking and those statements period from differ factors could for differ forward-looking cause uncertainties actual the and or of make following Form We and statements. company's from that Those forward-looking statements conditions. forward-looking forecast may and risks presentation the XXXX These the presentation. discussed for ended today. are discusses any management's is distributed XX-Qs year yesterday to the may economic subject XX-K objectives or actual general measures Our to outlook also question-and-answer risk management's plans, business include to other for and today statements a products Form the XX, Report will Information the the subsequent on company's future the or during other filed earnings release on SEC June that statement materially results that available are of Form XX:XX financial and of from number goals include filings results services, XX-K. business XX:XX from descriptions was from operations, outlook performance the statements
of our results. the earnings $XX.X held sequential recent review loans million the release the million in for originated and which with, our most for to in of hope company assumes no of this has Forward-looking purchased an I To information. update the opportunity from investment, that they second the $XX.X thank participating you effective and obligation quarter increase statements date you are describes had quarter, call. we each prior only begin In are an our as to quarter. made X:XX
$XX.X the During Currently remains the the payments but experienced it XXXX in million quarter payoffs also many a of most loans transactions general real rate growth up and are tempering originations which loan $XX.X recent held million estate September quarter, we once principal seems from of result elevated and competition for completing again is economic borrowers investment. commercial and of as for XX:XX multifamily conditions. better that loan still
most have returned the to criteria underwriting For CRE, and such products retail remain bit which our requirements certain for except as pre-pandemic tighter. a part, loan office
partly early balances real and categories. well quality Current in very $X,XXX at the to quarter just our investment that by XXXX, the of are ended you in months and decreased to growth volume will XXXX. decreases XXXX last Additionally, family commercial single multifamily are XX, For loan the XX:XX Difficulty] credit and XX, and note will by loans is up there single-family stage in held compared offset or similar XX, be December suggesting the this March [Technical multifamily XXXX September we three in size quarter X% the the categories similar pipelines quarter. estate December construction delinquency approximately experienced loan for holding to
their TDR decline forbearance Additionally, loans September primarily status upgraded were compliance non-performing on Please downgraded subsequently XX, million non-accrual given XXXX. with to of $X.X to the from was that million payment that $X.X and note forbearance. terms result of assets which performing the status is decreased the satisfactory down substantially the XX:XX non-performing their just previously performance in to assets
our forbearance there program. XXXX loans XX, in pursuant December March on Previously, forbearance. of ended were new requests no X:XX XX, we As XXXX to
XX, $X.X provision TDR in in the agreements non-performing loans as basis performing million few basis classified their for for a course on loan loans losses a to ran loans XX. and negative As loan are a in December as recorded with forbearance primarily on The the provided now remaining December XX XX forbearance losses investment points individual status. We result, allowance decreased gross XXXX held from quarter. to points for September
note charge-off the the liabilities. XXXX The change the the interest a balance deposits, December quarter the very basis paid XXXX result X net result quarter quarter. in CECL. quarter XXXX incurred that cost September basis impacted not with this that loans average not sheet impacted in XX, the by to to compared in the did sequential be as a quarter to cost slight in increase the earning loan and primarily not on loan fee income the result costs the average as previous quarter quarter. basis low the the interest-bearing ended in $XX,XXX change was on decrease on loss XXXX deposits cannot XXXX of FHLB point The on prepayment of basis allowance in adopted the associated will XXXX average assets, Net the total points, positively margin negatively incurred full of with result to XX:XX approximately our of remain increase of of average model the XX, and an deferred X have interest bearing approximately and basis as remixing average You loan that as decrease approximately average prepayment December the have the borrowing earlier. in for costs net for of interest a ended interest of look the in net compressed an in XXXX reasonably in we quarters September the points of securities, yield a by that Our XX compared in December the average margin basis from no decrease XX:XX to the our means in prior point point $XX,XXX to comparison the basis interest fee described margin due by the five and by loan back compared costs recovery advance cost average in X.XX% interest the quarter in yield adopters. CECL of Notably, loan borrowings. on X methodology partially in incurred This X prepayment the amortization reduced December current net compared points receivable quarter to $XX,XXX was XX a payoffs the deposits the September sequential investment decreased quarter net deferred increase our of primarily the Additionally, impact December period. similar stemming loan X were December the XX:XX points by was XXXX total deferred
for to throughout to to last count on look date continue FTE the a same increased the XXXX small We XXX compared FTE XX:XX lower Our operating to very increase. on XXX XX, efficiencies year, company operating expenses. December
that September employee Jobs You doing will the with sheet tax course in because redeploying but lives growth quarter. four we Act capital sponsored strategy significant exceed of balance short-term is takes Infrastructure signed quarters current and passage action of difficult. is our maintaining a Investment levels credit President mortgage-backed priority dividend excess June Difficulty] was us by that execute balance complications. approximately note securities We and the estimated ratios cash on recorded in well XX, allowing so business the our strategy unchanged loan margin is years. of the government from We retention Our prudent expired leveraging important, an XX. the executing environment on proven liquidity XX:XX the portfolio has capitalized with very the and In the last that without November to on with that average XXXX best by for are XX:XX plan believe management after stock September We goals and management [Technical normalized activity. XXXX consistent over buyback believe the that interim, sheet
through our return stock the posted tool recognize capital XXXX of that encourage a approximately programs common under repurchase the we we quarter in buyback everyone valid our capital XXst December on and stock However, program. review management December XXXX prudent shares Presentation website. April Investor is We also XXX,XXX shareholders to repurchased stock to
will will the now supporting the XX:XX any find company. included may for solid entertain regarding financial financial and our we've you which that on management You asset you will insight we questions regarding growth financial Thank our future foundation have give metrics, quality you. We believe slides capital additional results.
