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loss $X.XX As $XX.X reported for on a recognized we our a credit per cents earnings provision million share due of in QX, release, to losses. primarily
pre-tax $XX.X in increased our million in $XX.X from QX However, income million pre-provision QX. to
was the at million $XXX at the thus loans. grew Moving Of which quarter. rates increasing was primarily to increased deposit and the March deposits most at that noninterest net Offsetting PPP to minutes. in deposits, discuss the QX, due for accounts end or the few $XXX from credit result XX. amount, further the that during demand QX, prior to decline on Bryan XX will operating the utilization balance of XX.X% from loan production increased PPP the of at increase $XXX of was C&I XX, June increased XX.X% $XXX.X the to established significant loans. deposits of demand balances loans million QX. SBA million in this June of XX.X% on XX.X% noninterest McDonald total as loans lines a to PPP a due impacts in the sheet, in loan The Deposits million
only also growth leaving significant other In addition, the CDs as showing deposit categories, in a non-maturity category decline. deposit experienced we
at We maintained continue fed Home $X to facilities we Federal Federal Bank lines million. Bank Loan fund totaling have very and over Reserve strong other balance the At of quarter sheet credit $XXX banks billion. liquidity. combined And at end,
securities total addition, million have totaling points less currently In basis we unpledged and deposits X investment brokered $XXX up than of make deposits.
deposit Our is ratio XX.X%. loan to
during low our longstanding economic situation. sheet with which with serve of us continue We believe leverage, balance operating well a will our we strategy current
not been use also the conjunction fed’s have with needed we liquidity approved our in yet to facility but PPP have We it. lending, PPP
during problem $X potential charge net were are this related loans our off manage we was quarter, amount non-accrual over COVID-XX. related pandemic, charge But loan million our of amount approximately $X.X one to a financial of to from issues proactively recover was substantial charged for due portion portion was who and to QX that we decreased quality, loans slightly the the A the hopeful not prior off portfolio. this difficulties amount to the collateral. credit Regarding with million. experiencing borrower as offs balance entire The due we of Even this to a time. actually continue will in
of are more of portfolio; the at-risk of portfolio. of our presentation million the and to high-risk industries. includes hotels, than to and X.X% at-risk ground carefully primarily $XX PPP on the or X.X% portfolio categories following excluding million investor in XX% relatively categories: balances $XXX entertainment, the $XXX healthcare, Other Page transportation, industries million or including low outstanding less living, information the portfolio; commercial just and are recreation We our during monitoring or restaurants this has X.X% or categories pandemic, senior million at $XXX XX exposure our high-risk Our is air. exposure
for at interest-only million, commercial with payment were modifications end modifications, and other a the deferrals QX, days. structures. Almost being the we loan $XXX to on full XX total XXX XX% modified XX% Moving for had of being being deferrals, modification approximately all remainder approximately of loans
dollar loan modifications higher consumer loan than While and is commercial portfolio, number the X% than of less modifications. loan commercial loan consumer modifications are of amount the on
total, clear pre-pandemic While its rating, if a risk performance. conservative rating it taking June we operating and pre-pandemic XX.X% In to million at this XX.X% were loans have loans. will loan been modified granted leaving June €XX Of or XX, to that return is portfolio, their have entity second million we as amount, as the quickly ex-PPP XX. €XXX of of of risk a approach modified modification
to XXX modified pandemic-related of of totaling in the We downgrades these Most modification. have at issues. $XXX the downgraded occurred million these of response loans, time
to not included upon COVID-XX that due In loan addition, we in and loans of did receive Most downgrades a watch million numbers. are potential are another COVID-XX downgraded modification. to not of $XX.X our
for that round some deterioration of we’ll expectations borrower of next Our the and to modifications, substandard. sustainability downgrades is see
modifications see to businesses, as in since medical, the second expect such also round practitioners are dental some running. we However, and back fewer up
modifications, credit of requests mostly compared the reaching the We’re increase allowance a loans far, The for first round included to The of in was rates of X.XX% due on from been X.XX% the total for of loan loss The forecasts to previously At for QX due for the in credit unfunded increase QX, combination to the the and increased lower total but prudent at worsening losses. end mentioned. the an second forecasted loan so QX. $X.X for losses a the expiration of provision for €X.X used million nominal. €XX.X for the amount have allowance in of economic in credit I was million million provision for just rates now QX commitments loans losses utilization to for losses QX end of provision QX.
provided not at the which loans, allowance X.XX% June loans PPP guaranteed losses are for on XX. credit for Excluding at was
As the of XXX% a dependent QX the at non-accrual future will from loan the to including end increase end growth. at of QX. the decrease charge-off in loans allowance The in increased result non-accrual on a combination experience economic provisions and be XXX% forecast, of factors the and loans, magnitude of the allowance of
rate occurred Our XX including cuts in on net of This combination factors points rate basis to points March. of in the decreased instruments a impact from the margin floating due XXX interest QX. basis
New the in current the cost with of than offsetting loans have due loan curve, a having a yield rest investment percentage the is yield yielding decrease deposits lower and of much lower to a deposits deposits. yields lower portfolio than total lower PPP loans a of cost higher Cost which of overnight and balances, XX loan the and the investments rates QX. portfolio. low of basis Partially categories all in decreasing in decrease points cash
the increase compression with margin quarter PPP expense the was the in XQ. income decreased X.X% prior originations quarter due experienced in deferred increased Noninterest a offsetting $XXX,XXX and was Although, of the services from comp platform, mobile PPP Direct, of Partially to commercial the the associated loan approximately loan to COVID-XX themselves the decrease the our from prior a decrease slightly $XXX,XXX benefit in costs And We from impact expense result interest bonus Heritage due implementation not and repeat to to expenses branch expenses $XXX,XXX new of expect online mostly these prior increased in which paid processing. interactions overtime QX. retail during quarter. due discussed banking last $XXX,XXX we customer in due Net to loan This loans. mostly Professional of QX the the we of PPP $XXX,XXX during pandemic. to facing quarter from an originations. PPP benefits. staff, do the
loans. were on be June we in did complete We and expense quarter. to QX, won’t is moved $X.X our dividend, able of of although the in Direct ratios, in completed finally, and believe Heritage service XX. in long-term loss Based approximately to the we remain capitalized dividend this you TCE the professional outlook, be capital. QX for QX ratio the capital to Yesterday, well this million should unchanged dropped prior regulatory $X.XX impact to when million was level capital QX, the moving in which quarter. expected initially of ratio board on $X.X was all of due the the And Although the impact The for implementation X.X% recurring. implementation our PPP position X.X% not declared in
and continually pay McDonald monitoring to ability future. now and loan will our However, PPP we the production an dividends the have are Bryan on in our update status. capitalization
