for our you, thank call. and for second morning us earnings Good joining Julianna. you, Thank quarter XXXX everyone
times. dedication our for results, financial to would like we unprecedented service customers thank their all our into X,XXX of Before providing these seamless with I during go first-off, associates to our
our first commitment is our teams' putting to reflection true of Our a clients values.
out open business help we of branches of under resumed designated Back in government June. a resource service, day pandemic. purpose April, end to associates early essential branches we excess XX strategically All customers. our there plan contingency closed of of out branch and every part and for the the opened remained at creating XXX our normal locations, As were hours the capacity as were
one with organization, an we provide cleanliness our enhanced for to and number and our To end, all operating priority our a safety is of As both safe customers. locations our adapted measures. associates that environment
been We terms continue has non-branch associates, the remote work-from-home of and plans very transition in for to productivity. successful work
associates. developed a We return for plan office return detailed have gradual to phased with
challenging customers serve our communities to second over our and Now, over during $X.X the for loans we mindful business XXX,XXX of through of small that to under funded that employees. and billion XX% we support The size. SBA in quarter funded mission these times, of X,XXX we medium that over accumulatively XXX,XXX size and were loan was nonprofit organizations, XX,XXX loans the medium-sized PPP support
customers X,XXX addition, over customers, we new the In PPP to East for are West loans provided Bank. of
crisis Slide this deferral. is that and consumer can see we accommodations of to you that received details as the X. modifications, we for X% over. our them To At deferral, commercial payment Of thrive the and three-months total related that quarter-end, customers. are impacted help second East customers before the For COVID-XX deferrals loans when thriving XX% payment the bottom is and on will West, through various our were pandemic again the line offer crisis, end, these
loan are C&I payments the that rate commercial or was $XXX X% June of the period. billion during partial and our deferrals, to $X.X still As XXXX, Of the million portfolio total deferral, the XX subject real of estate XX% at loan deferral deferral was C&I in only CRE portfolio making XX%.
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idiosyncratic industry. For C&I, by it have been and loan
to quarter morning, per this move results X quarter net I $X.XX condition on Now, our or the This second of million share. of XXXX $XX $XXX of the million net quarter income per on $X or compared to income we financial will first Slide and reported review of presentation. share,
profitability results $XXX efficiency pre-provision important earning costs PTPP XX.X%. industry-leading absorb and and adjusted steep of our pre-tax quarter challenging return net strong ample relative tangible of rates this helping losses, ratio reflects our include continue the interest profitability income. provides reflecting chart bottom model, ratio and circumstances, our organic of ratio equity our million the you resulting In ratio our of At solid, can a pre-tax the PTPP impact $XXX with be maintain $XXX power of results In second our negatively we total credit to quarter, pre-provision profitability earned our in which economic variable that a was during financial pre-tax of X.XX%. the second X%. stability. and Slide PTPP An million credit our Second million income In income generated loan X%, remains over in of revenue to equivalent for to drop see ratio. operating the X, is resilience the franchise uncertainty. the quarter, fundamental have pre-provision business efficiency provision our Despite us of cushion withstood recurring
balance we of crisis From on X summary of strength. enterprise management sheet. position for this to Slide move review our Let's navigating perspective, from a an risk are
Our balance strong. is sheet
and by by liquidity We have well total and annualized deposit second and and XX% grew of portfolios loans XX% are annualized. the diversified. our capital we deposit high levels impressive In quarter, loans
balance as June decrease quarter-over-quarter which Greater XX. grew The down $X.X to loan-to-deposit sheet of quarter. in of quarter-over-quarter loans XX.X% of China XX. which as March since ratio March second of ratio growth include by X% in and billion the deposit the loan-to-deposit strong $X.X X% Our were Also XX reflects deposits XX.X% compared was billion, our the
through our PPP and the we by on our balance liquidity PPP facility sheet liquidity, Additionally, $X.X our the loans substantial serve bolstering drawing funded billion, capacity strengthening to already customers.
strong ratios the common to Turning West among of and that you are can some for Slide equity. growing are X, and East banks, see regional particularly highest Tier-X capital and
prior-quarter. X% was of $XX.XX. value of book tangible per per the Our Book from the share and was as share were equity both of up June value tangible $XX.XX equity end
that You equity chart total increased can from and ratios, risk-based the common capital all see capital capital, our Tier-X, quarter-over-quarter. Tier-X
company's record for X, dividends dividend We Our have declared did board stockholders on stock buybacks of of XXXX. second not payable quarter. on is to during cash common quarter common The third do the August XXXX, stock. any directors of August $X.XXX XXXX the XX,
Now, let's move of have to discussion loan Slide to a our X portfolio.
linked June received $X.X increase of XX% a quarter of total by billion loan billion an billion, or record loans of $XX.X $XX.X As annualized. grew XX, linked annualized. quarter XX% Average
XX% responsible quarter from portfolios. from demonstrates benefits second challenging us the providing our growth by diversified quarter, by residential linked attractive loans generate and well the of loan came Average PPP annualized loans residential with During East mortgage grew grew real portfolio, average commercial well ability West and linked as growth, as loans mortgage CRE estate, total conditions. XX% of mix to even quarter the economic growth and annualized. This under loan
loans second of during resulting quarter the begin loan $X.X the to XX, loans billion average As and was expect quarter, grew of At end billion. substantial balance the PPP year. we of in June in PPP this this the these before reductions third of later point, balances forgiveness $X.X
our payoff liquidity run-up Recall loan C&I time. at present that of federal C&I fear decreased, and the the those were PPP, in intervention, saw sizable at to reversed. across of drawdowns portfolio. we the clients, balances reflecting market in subside, part the that a liquidity first draws some distributed fears Thanks Excluding end quarter, C&I from
in this see can utilization You statistics. the
moderated XX% decrease portfolio months highest our was and year-end XXXX. our As of line rate loan utilization moderating in of XX% ago, in was across with from of business, and cross-border three loan the up broad-based we're That have in seeing flows pipelines since And call line XX, picked and of as our C&I in C&I June portfolio, from including XX%, C&I April lines, June. capital Noticeably, May entertainment. in due June. and equity private
information the we they changes of economic that and quarter, from our necessary for The many to also to customers, in what high evaluating this CRE a financial second focus risk on process Through the customers of the value, over sources strength, operations loan and of focus particular we stress positions reviews conditions. conditions environment. Overall, During are into pandemic. loans C&I how situation. visibility them, made adapt us financials, the XX% credit and a weakening the and our giving business are collateral and on during of equity, better new adapting of reviewed our with to review higher for of their a have sectors pandemic exposures up-to-date portfolio of our liquidity, to prospective the at undertook sensitivity were current were vigorous
X, we June heightened loan from increase loans iterative impact loans the of the credit Overall, behavior, the and billion portfolio. oil or Slide some on pandemic loans the loan our that detailed of a small our gas businesses we duration These were to as experienced was practices, on global we excluding cycle. due of PPP continue C&I shutdowns, downgraded criticized loans. will the in and normal breakdown XX% Continue show a in review. consumer reviews primary these broad review $XX.X total to of of this addition for However, the the and of loan XX process industry. percentage C&I were we
As you diversified our well can is industry. see, by portfolio
XX, the XX% redetermination XX exposure billion gas exits June and gas certain Our and total From our as of Spring of base through commitment. of XX, borrowing March $X.X loans. July as by period outstanding oil and oil loans workout commitment billion $X.X following well of until decreased total was as
the XXXX E&P E&P XXXX for projection Now XX% XXXX. XX% portfolio, is for and their of gas production, for oil hedged hedged hedged our XX% clients' Furthermore is is is within for and hedged XXXX. XX% of
X%. reserve We recovered the June this commodity their of comfortable our As coverage XX, prices, potential feel current with portfolio of light from in level of gas was for losses, which for oil allowance trough. especially loan and XXXX, have losses
balanced loans. CRE geographic CRE of total hotel. Slide Including distribution unfunded to office, the as of footprint. on CRE to and industrial, our total well $X.X XX, as loan of June XX, was X, of billion. equivalent or billion small land generally of Moving total branch And is loans. of owner-occupied $XX.X equivalent multifamily, major and across was retail, The X% portfolio to of construction reflects is total our June portfolio loans to The commitments, portfolio types our at property $X our exposure XX% billion under XX%
Our construction loan average low well by portfolio type commitment. XX% is total based property with value on a of a diversified weighted to
Slide value by In XX% are property to our see $X.X loan average that chart our You total loan to similar XX the the was weighted weighted size an that loan an on million. see XX% the have CRE can loans you Nearly on value portfolio lower. right, or of XX% with value of to average the type. CRE average loan can our of of of loans
Bank. XX, our distribution XX cycles credit our to borrowers losses with single-family single-family have residential and our relationship follows and Slide personal and loan XX, has West of portfolios. HELOC On low see CRE regarding our we in provide recourse long-term mortgage history details income loans high branch you in low producing the percentage our footprint. a geographic who have consistent Our credit of can to underwriting through loans. CRE full portfolio additional On from many residential value that Furthermore, guarantees Slide of East resulted
than loans originated mortgages in or $XXX,XXX The to have XX% residential value our value average single-family of SFR primary to loan loan Our our only XX% East the portfolio is of through More branches. weighted our XX%. average size is are and less. West Bank an loan
quarter-over-quarter. The quarter May X% in combined a $XXX from our have April, history in but credit combined of In mortgage loans of mortgages June. single-family We single-family the $XXX of volume regained lines second residential residential credit. home in million pace mortgages. long increased mortgage quarter, million originate a and $XXX minimal million comprising origination losses second Production dipped in and equity we
mortgage transactions. increases on In in to to compared the see pipelines, refinance In distribution primary of origination mortgage fact, in the single-family in in strong the residential were residential the to HELOC transactions first for West production for Bank. the loan record HELOC the to strongest On we rest expect Bank of HELOC year. XX% was East quarter. the and are June second Based on value can XX, refinance distribution current geographic increased portfolio. the originated growth originations Contributing Similar the volumes to you our East West residential XX% through volume our factors branches. Slide of quarter, mortgage, and
we As rate of to our originate have of HELOC outstanding, disbursed SFR the $X.X we translating into a June credit West, are XX, billion loans. in similar billion HELOCs very $X.X of profile in XX%. utilization plus East commitments,
weighted and our under was XX%. The were June average XX% loan of of loan commitments combined HELOC. loan have As the values our to for $XXX,XXX position HELOC XX, value XX% we a XX%. of size to of of only our HELOC in was average commitment first-lien
would rate in I have was compared been the that stable. highlight to first average single-family origination X.X% second the the weighted of The quarter Lastly, quarter. X.X% fairly in yield
priced detailed deposit discussion I now will First-lien turn prime HELOC the our for statement. allowances quality, at a more rate margin rates to of Irene? over of basis plus Irene and XX a are points. call asset and income the
