morning, Good everyone.
but $X.XX share, reached As quarter. $XX.X in Aurelio there down million two mentioned, strong. million, from for the slightly components were We the were a results last $XX.X we the quarter major quarter, achieved
the on $XX.X loan an interest increase led impact million of net interest First, the rates in market growth income. rising to the of
million, million. is were as than on of and had credit XX with last the net last $XX.X which expanded quarter, income basis million, variables interest $XXX amortization of decreased the million, and X% for and increase that leading interest a a Margin the Difficulty]. the balances, investments I interest just is obviously, portfolio if a for at income on in by $XXX PPP an the the increase of as income interest was the also reduction, benefit to If look $XX.X mentioned, quarter. increase repricing macro an obviously, forecasted in securities hand. compares to come compared quarter down on the quarter uncertainty million and quarter of million interest the quarter improved additional premium represent [Technical $X.X use in provision yields, increased the expense net improved in million income calculation We well in million The income. million, for investment other X% quarter. reduced the The we PPP included increase the growth increase $X.X and on help better -- Charge-offs the based we quarter, exclude as by of rates reflects, by the totaled The had quarter. to $X.X part the Reduction portfolio. and have prepayments The reserves provisioning. that which in at repricing as an points we components, this loan as losses of in portfolio, cash higher in represent that economic million $XX $X.X in provision from X.XX% in we approximately $X.X
adds one that quarter. This million interest quarter quarter, in the also for than about $X.X day last net had more income
adjustments, on quarter second the in consistent, some quarter As adjustments rate XX in mentioned, happening the of decreased interest interest points basis the but in bearing that yield X.XX% from X.XX% I that basis to tied -- in and Deposit earning expecting the meets. Fed assets fairly points. once XX costs third June for overall earning went quarter, to liabilities was the the the July the last while from to basis the expected quarter are X we ones assets of cost Fed improved, point to yield are happened increases
some quarter year. do we expect and overall, However, third in fourth margin additional the the to improvement of achieve
the at first commissions service second contingent collection, of in quarter, the income. the quarter year. reduction all of It the a shows Looking mainly annual in that happen non-interest
as that by, the However, income the are a level banking led that component have being in on interest the to has of sold decreases have originations. come of obviously, other mortgage driven mortgages the shift down, rates large the conforming mortgage market we in conforming seen higher originations
for quarter in the benefit which the achieved continue first $XXX.X expense on levels to disposition. non-interest quarter. side, the expense with are On the $XXX.X being million, the gains from were million Expense that compares OREO
quarter having operating sold And we revert gains, quarters, some have to have than rather properties as to-date. reprocessed This OREO. on were properties, of will that expenses lease handling OREO values from [indiscernible] but expense had this having portfolio eventually in net at mentioned million we properties lower that expect we still of the moved net we $X.X on prior OREO a been gain
So there quarter. impact positive still next expected in is the some
also previously of a improve the which matters base. quarter, $X.X that -- had accrued, expense million this we the been second expense with in reductions the quarter, we considered also During resolution had had
at and third we the in compensation pursue of longer planned In some and we salary positions quarter some at year. normally continue that increased Looking are fill continue we running we additional those merit it have million increases we quarter increases had expect we as components, employee to quarter to we anticipated saw filling the other reality, still but this higher third level the a benefit execute in of $X.X the vacant the and taking vacancies for and positions, of than that. large
a -- past, both other underway. continue some some quarter. service increases and mentioned projects fees had to execute professional The we and technology the we we in the are as we component of in ongoing that the $XXX,XXX increase definitely, in technology saw fees And implement by is costs that, as we expect additional professional
because to and would We the the we any quarter offset have lower exclude mentioned excluding in the the items I in the technology and improving originally you base. million as expenses the discussed expenses the for pursue have expense benefit mentioned we to range we than the call. million and some we of for $XXX.X OREOs And I about on And had at $XXX, them would see quarter. have to be looking on around compensation expect two that. cost OREO options Obviously, second of expenses we -- slightly the If excluding a last in with range. discussed didn't continue fourth OREO on quarter third other OREO $XXX quarter, we that to been trends. project million costs on -- expense adjustments, past $XXX
was the of improvements normalized lower but mostly to in of have to more is for will happening of year not next and given the underway. of is we at to be expense you the saw, quarter than XX% XX.X%, efficiency. has start extremely going just Benefit As revenue year, the target On as are by Efficiency we opposed we components, this at the based with and last branches the we not a large, couple expense do and improvement the possible have year end that good revenue combination closer it's quarter ratio the in levels, lot a quarter that the had revenue look to those mentioned component. on If XX%, I the the components. last we believe base which
at quarter We quarter the The assets. basis portfolio and consistent. decreased loans of XX it's the the by the terms we in compared million, million stood on for continue non-performing residential they obviously, sales forecasted as trends the $XXX variables quality, any sensitive, the for quarter. basically so assets to X.XX%, now to X.XX% first million, ratio by this million up the they positive. mentioned, in (ph) compares inflows, on credit in in million quarter million In allowance asset $XX.X of very the points, $X.X lower, points decreased million, past in mentioned, of payment. we Aurelio as The higher the from overall XX last been loan $XXX collection, will I reflects occur end as first that that losses Net we quarter. it's reductions be quarter. reductions commercial million had to in quarter. last to portfolio. that was as economic a The it’s changes $X up for of quarters. been is to before. on being in OREOs, consumer the part on includes sensitive $XXX where balances, part allowance it's recoveries, reflected by this from that the [just] and They basis primarily variables. Large quarter second to had which delinquency, compared were well component And $XXX at consistently in had were in stand $XXX XX stand uncertainty which mentioned portfolio pretty rates $X.X at commercial commercial in days last XX million, million, unemployment macroeconomic only the has was $X lower additional decreased at Non-performing that points have which to of relationships was quarter quarter that the as And to NPA the inflows $X.X million -- the due charge-off, XX terms will days and Early -- of renew last $XX.X ended in is million we quarter increase which the increases, allowance of loans, million, $X in I quarter also basis matured had defined renewed,
very ratios continued front, have capital capital the that be of On with the we Capital plan. Aurelio execution the continue to strong. mentioned
ratios ability the obviously, of with it, dividends. just securities book As from other chart, capital represent to have you But over an to the points like had X.XX%. X maturity. the the questions. will million we the adjustment, call similar. And to The value. as Tier by we combined as the this can see most OCI $XXX impacted that, tangible impact the basis on on X $X continue until believe I value common now only book XX.X% we With the quarter quarter was this would OCI adjustment have on the hold as down to impact came time from the XX.X%. and decreased it affected we mentioned, last on on OCI a example, have X.XX% over for Tangible to the be liquidity we approximately reverse these share open repurchase,
