I Kay, today. for you, and and safe you well. joining thanks families us everyone and your Thank are hope
are continuing and return the As of well business this our workplace. month serving the to our we're performing systems our adjusted ninth doing and measured approach customers, the way of we approach to
remains our associates have The a remote. We multi-phased majority base plan about XX% corporate facilities. in still our and our non-branch have of currently of associate
our customers operations with our meet drive-up at or to continue our by locations. We and branches appointment most through
a in-person those These known; know our we'll standards high-quality along what an ready success matter. virtual times of and we've our I'm had capital I to relationships and communities with and our have calling and liquidity very handshake. maintaining maintaining customers other. extremely eventual Doing interactions with adapt, our reinforced efforts, right for levels. are underwriting at workforce, with one but proud be Our and meetings our associates continue adept customers priorities, return support what's each to relationships always teams with and all how and while impressed to is have solid
reflect year-over-year the charge-offs of loans, double-digit both with Our just growth sides third and improving priorities X.XX% sheet. total on due past trends of quarter results of balance net those
for On million, was the our credit front, modified of balances. the quarter the book quality reduction $XX provision and the loan reflecting loan in
allowance $XXX.X of allowance loans provision X.Xx on represents Third charge-offs third X.XX%. The $X.X coverage the million. in September quarter total reserve to of million loan for an with losses to net quarter brings XX build at credit our
Xx were Excluding is that to at reported million or PPP XXXX CECL. assets nonperforming peer X.Xx coverage X.XX% have on compared of median to to those the nearly $XXX.X who X.Xx based loans Total of adoption reserves year-end what prior or date. it the was
build our We expect behind be may us. reserve of the bulk
Our material in of deterioration our portfolio markets is positioned and well date. signs we haven't to seen
our that and there including stimulus strong significant economy This However, credit of the underscores the of round the next impact duration election, capital several the borrowers. the pandemic of the our are importance and position. factors will and
our During this in issuance strengthens to opportunity an already attractive Tier The X reduces first of at the to cost we rate with capital overall rate notes. of fixed our debt solid million completed X.X% bring and subordinated levels quarter, capital fixed $XXX our capital.
points basis to XXX third for improved ratios capital risk-based quarter. XX.XX% the total Our
allow, market long the dividend payable important And a January. been as of look in organic the capital use have growth, verticals. augment And as in for penetration X.X% the our to strategic increase capital Returning in us. that stated approved we'll board acquisitions. markets we to for as growth release, has remains press for with conditions just priority deeper of to opportunities to continue and lending top our Our many opportunities shareholders
since have dividend Another a on we've total dividend listing XXXX. public next the XXXX today proud XX That's great NASDAQ. We that and past years. More for our the anecdotal went each recession our in uninterrupted spring nearly marks very of anniversary a paid share XXth XX for even the That's years is recently, through our increases, of. increase of XXX%. I'm increased annual of something of
reduced of income million increase $XX lower will linked spending the trends pre-provision compared Now at that in these a or the times, million. to and quarter, moving with market Despite sale those annualized I'll in per the quarter-over-quarter income results. by $XXX And X.X% posted helped a quarter loans represents first volume unprecedented on income, assets. surpassed posted XX.X% interchange securities from XXXX. share Ram for and asset second gains while deposits quarter borrowing of book, as basis. of we increased the related more time share interest XX.X% our and billion We driven line quarter average AFS to second costs excluding $XX.X the pre-tax largely over we back million X.X% linked-quarter decreased shortly. cool Net the Total from details we The the adjustments lower But PPP positive $X.XX including along and loan volumes in on third in net improved card trust growth million increased the $X.X and increase note on third of $XX.X of fee quarter, strong drivers processing was us earning have partially was mitigate increased balances securities. income. decrease the yields. strong income for evaluations a driving levels
line $XXX with increasing quarter. in mentioned March to consumer loan spike driven growth prequalification quarter mortgage linked of year-to-date. by growth average applications This I again estate XX%. commercial of level record remained we at quarter, resulting highest estate. real origination the loans consumer and utilization the stable Last is loan some from was was outside highs Commercial after averages largely saw Average similar PPP hit real prior and and the that the XX.X% the million, April. New recent production in
composition Our during loan product followed of portfolio shown remains industries. and class. asset the slide by across commercial quarter and activity is Total on geographies well-balanced loan XX diverse our breakdowns and several by portfolio lines,
what loan Our of our slide We're portfolio. September of billion, PPP $X.X we these is that loans updated balances excluding see by Total exposure were that impacted XX.X% categories sensitive a to end portfolio billion the on down approximately preparing accept are At June to days. call At in of loan loans geography XX. we XX, applications forgiveness in XX, the X.X%. in category. to slide more potentially you'll $X.X and total PPP shown industry our few representing XX.X% was reported On next our industries.
carry However, after more billion if is analysis or prolonged. to risk X.X% $X.X we feel possibly the crisis there's approximately
table are in relationships types We risk the contains loan loan these modified the loan in these Quality is of regular our details page monitoring shows the have communication and on category. quality loans with closely at data and Asset section. portfolio included look XX borrowers. these granular on our The This by
we second modified compared the than On have slide, that the quarter. following XX% you'll in a reduction to loan balances more of see
requests, we modifications. approved approximately you in recall initial $X.X based As on billion
if or were are we modification quarter. deferrals portion Business $XXX May, includes largely and portfolio offices, or had solution banking X-month September Many ultimately loans, those you during scheduled of XX, which fourth needed April we $XXX And quarter. exclude million Banking, to our million balances related customers. dropped our in business X.X% just $X.X clients not loan of loans the therefore, However, offered down to expire many by last X.X% the the had remaining billion of made deferrals. the dental practice At proactively in from were to
to normal status indications the are very early expect and We return majority positive. our vast of payment to clients
company our our as a UMB success early in may last excited week, you press business we're Finally, have Capital small Corporation. in seen recent story release about investment
in $X XX. Finance in the cycle IPO, XXXX, resulted us initiated is on a stake in truly capabilities This October for Ittella million of division. in investment X% ownership following its showcasing Tattooed a Capital investment our was completed Our Chef life which International
Ittella with our Our partner were to as in they based grew. we asset and lending with them relationship began group able
needs stage a to diverse capital. manage reiterate the us serves for and each working with management to capabilities the in strong sources. revenue risk capital prudent the and through and of a to allow helps continue position, capital history long-term of clients we This buffers rate we navigate Our our crisis. us I that meet environment development provide mezzanine liquidity at from well for closing, interest In of variety a as
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