Aurelio $XX share $X.XX for share $XX.X net $XX.X Good quarter the mentioned quarter. everyone. last $XX.X was a pre-provision million was million, million million morning which Pre-tax to with or a compared last compared income quarter. or $X.XX
million. you $XX the release, was and as benefit credit restructuring of also the acquisition. in with a on this we represents of the was $X.XX on last about of provision this million $X.XX a results what had The include after-tax As million quarter. It costs last the associated quarter. saw merger broadly include quarter also $XX.X $XX.X benefit results benefit It for provision quarter. for to compared losses approximately Results in
While, in million. this $XX.X last quarter we quarter had – while
assets, that increase interest is net we've points of the basis and in interest-bearing to compared by XX% percent. $X.X components increased XX had driven combined represent interest The $X.X average directly interest of which was what saw points, the as this is cash, than and year. now assets. was high The the it interest by cash increase thing quarter. for X cash, its is the at the mainly to We which the a which million. balances, the billion investment basis of investments all interest-bearing on investment higher earning earning income quarter, XX% increased this about $X million, Looking yield related deposits total last last in quarter and quarter cash Its X% up securities income balances
interest that the was the basis we includes some improved On a $X.X by in construction from recognized that X loan deferred realized commercial margin and about million paid $X.X that That grew loans, income million interest the were quarter. [ph], on points. up
we last The XX down it if $X.X acceleration income XX quarter Securities we already was is to off down combined residential at in points profits the despite basis the change had million, the portfolio, the deposits. other by cost is interest result the about liabilities, quarter. million basis on from pressure continue first total $X.X net $X.X the look in than average also reduced for had of we from X hand, see points was on this income, interest-bearing increase fee liabilities million. quarter expense and and flows the XX last in the continued quarter, interest-bearing paid the that but XX and points. brokers of basis Interest XXX mix excluding was quarter that points grow the points, was down points to as basis deposit total we basis loan cost with of lower, On in loans margin the was XX PPP the about a lower which was mentioned mortgage. the which to Margin basis
go have on received, had We loans income conforming Non-interest insurance focus in year contingent come the the a the fairly of three main and down continue last revenue year the other on volumes. of quarter We those but on $X.X commission quarter prior continue up, last portfolio. transaction transactions. based down things, getting on we based Number one, quarter. that was every were see received to the like originations, things. on didn't pre-pandemic of any increased that’s volume on two million paper what we a cards first volumes to hand, that was and bit the and banking base they close fee have that on Mortgage debit we credit [ph] the to income
On the million. $XXX.X expenses by expense million, side, $X total expenses decreased to
As a second non-GAAP $XXX COVID the for I items, $XX.X million to $X.X excluding quarter we employee mentioned, quarter that reduction. $X.X includes On basis quarter. and these expenses expenses the to quarter down quarter million very which is compared includes million expenses, $XXX compensation million merger the $X.X $X.X for first is million. million a in similar compared The million to were first had in $XX last in in related
year at savings resulting We the Total under involuntary for implemented the additional achieve $XXX,XXX. of during from and million. the this and voluntary are the first last quarter, savings in were were about savings $X.X starting quarter programs the separation end of to that
taxes employees $XXX,XXX. as we payroll $X.X about First of quarter we in savings reached million Also of a a had payroll had limits. decrease
we million, quarter, were first OREO in reductions Our million write-down, PPP a and payments also fees platform, cost property value card XXXX the an primarily also to on down the we mostly combination with our in write-down of received and related the that some costs, saw other quarter the volumes we first credit had associated on of the million origination related that viable in expenses to increase professional commercial a $X $X.X the debit had incentive and on $X.X higher component. hand $XXX,XXX, we volumes. of But the fact the
improved to related ratio XX.X%, go, conversion if processes, efficiency expenses to continue merger the XX.X% to merger Aurelio made complete we to the we the reference which Our percent, ratio start was related will those as exclude costs, but disappear.
are those significant to we the reduction On reduction, this costs. it's been We frequently a get question expecting quarter respond. one and difficult of of components
achieve We savings this. continue to from
quarters, $XXX $XXX give BSP's estimates, you and have of a on both as variables indicators. price at projects. well levels normalize separations. have and It's rate commercial improvement the that's in index national two several they're of and seen term. We continue and the our real cost. being the we to but to On being the expenses, included I we determined, last indication, macroeconomic is Unemployment are on that level can part fully expenses OREO in index both Keep leave reserve the leading quality, Puerto of in Rico. some and which that in technology projected over near mind and improve, million of home range per estate as are – and voluntary projects excluding credit significant ultimate mentioned some the in that still the involuntary in the projected Something cause thereof million separation to this quarter process these transaction still we will will ultimate
last been losses also I million, As quarter credit is was $XX charge we had $XX.X $XX the on million the If allowance million $X.X also at paid losses, credit XX led result before. some June in net benefit from allowance recovery compared from million million This were excluding of million quarter other $XX we mentioned look $XXX as the in allowance the is for In which the had quarter. million the a on down as a prior last down we quarter. total that to to non-performing told, quarter. was commercial reduction thus components which loans, loan off, provision the $X the was of offs just for allowance million, have $XXX the in
for million. decreased the We the declined allowance provision The of XXX consumer portfolio, guaranteed. mortgages case have of fully add it the $XX side. allowance, in We coverage compared Looking down which those loans compared offs its quarter. at in ratio of and of by case loans on that million the residential terms basically commercial the need charge didn’t to the the any was allowance in basically PPP million, of allowance were in the the loans they to a Still much taken $X.X portfolio. allowance quarter you know XXX The on $XX.X In small was provision, of significant consumer reserve not March XXX exclude basis. investment to XX. on We ratio, to June locate total March. loans for loans as ratios the we to the as non-GAAP was did in XXX towards XX, held since are the
represent broad million the as On main to charge-offs. the decreased This to non-performing had $XX our includes million days total $XX.X a of the million decreased as to property we we and decreases to loans asset portfolio. and which to $XX loans it current, of of of to continue, assets million continue in commercial and last part in million of assets total than quarter reductions. $XX.X million to saw $XXX the $XX.X $XX.X to the loans compared come PDRs basically in some Resulting quality, assets by collections million million loans this loans non-accrual million. to execute by had In non-performing what million also saw flows $X $XXX loans million XX million, in of we was million and down we early under the a $XX lower reduction March. all improvements, XX property, of residential we levels. in we from and of by down; and were delinquencies, commercial categories OREO improvements last Also basically we is non-performing $XXX related had non-accrual sale million non-accrual $XX non-performing X%, of $XXX quarter we down had loans, of Total decrease mortgage strategy, loans, $XX Rico, June, non-performing to had continue as quarter. now were Puerto reducing X.X% X.X% consumer quarter
obviously this, very value repurchased repetitive, we through capital OCI revenues remains capital $XXX at of the We Aurelio securities. mention we Overall million. being because already just million acquisition. it the completed the improvement of capital decreased front, strong. had reference the includes On to That on less without couple in but the ago, made to If the the a of $XXX not look $XXX million of days and repurchase quarter we the the have the repurchase.
the the by was yes, have in X%. an But quarter share, With open so just as we for June up million quarter. and up made of of per I OCI call we earnings share the represent in all this As June questions. repurchased value tangible the improvement, ended in book to – additional the that like $XX revenues, with $X.XX $X.XX the of we close obviously approximately repurchase to the had per and increasing that,
