you Thanks in well. all listening as today Dave. on call to of for the Thanks,
as may of everyone discussed Before laws uncertainties. risks and know, we our in forward-looking Certain of may get involve federal constitute this purposes statements disclosures. safe started, to I the the matters need remind presentation and you harbor securities for
results XX-K December in the reports Annual these on that filed Form Form statements. Factors X-K. the year the a results cause and discussed Report from may such differ forward-looking might company's difference and XX-Q the in XX, are Actual XXXX, ended for materially in on subsequent
law. our as by forward-looking are located of The XX-K would company required does and website, not links include events, undertake our americanriverbank.com. publicly annual update statements, report which these except Form of any revise any to to in or XXXX obligation information our future The
this questions. I'll additional the key comments some and I'm going our try calls, to some open analysis the highlight over we'll for areas press then details Dave the turn and and of up in some prior will it to some with conference then As for provide that lines were morning. back release to
in the year. $X.X higher that's morning This second about quarter this reported last of the than of net Earnings $X.X quarter the second per the of the second and River for quarter million were XXXX second million, XXXX. Bankshares both $X.XX American of year quarter during $X,XXX income share
From results pre-tax was and The -- XX respectively XX points pre-provision I'm XXXX prior X.XX% second basis, higher quarter points the That's the in were respectively XXXX. this basis a second higher XXXX ago. quarter quarter basis $XXX,XXX $X,XXX the to one XXXX. XX.X% net and and ROE ROA sorry, compared increase. year for first versus for was a than quarter income X.XX%
adding quarter, call how to additional second first the $X.XXX relationship I the better comparison Chief Officer managers we versus the Credit start from to so most now didn't of the on As Net recent quarter quarter million. discussed quarters. be $X.XXX and we would the last XXXX, fared a two quarter million million income the and in increased in the XXXX $X.XXX year this fourth until has
second is of net income. the quarter XX.X% first the over So XXXX, net up quarter XXXX's income
to in Earnings getting last $X.XX right Those now of the do believe second of over; quarter not the fourth in heading quarter of share excited from year, we we're in to per to year increased worth the first $X.XX the this are has per too in $X.XX share the increases quarter XXXX. direction.
our interest then, $X.X in to quarter in increased last $X.X XXXX the to to year. million from this had net has million in from the continue increased second nice $X.X income, XXXX. and net has second income investments a $X.X We asset that has shift loans higher-yielding in which the million year-to-date million of of year from quarter interest the on in impact And
$X.X was $X.X a last increase. million year. income net million pre-provision, pre-tax year-to-date That's X% this about versus the up On to year
XX.X% year or the divestments in $XX,XXX about XX.X% to to quarters the from $XXX,XXX year $XX.X year quarter income of has -- in the from up We first million to last $XX,XXX The quarter ago. And the -- one daily compared $XX for from million, which XXXX. loan year. with of of zero interest second growth the last the I As This fourth of million almost quarter net they quarters the shift $XX,XXX added $XX,XXX also -- loan been now to two of required actually each loans in first this add increased from up growth $XX two year rate. of mentioned are to the now loan, helped because were in this provision. the we've in growth
the on comment Some balance sheet.
we As I year. December they've the exceeded $XX.X new from payoffs. the Again a increased in that's XX, in as this of XXXX $XX.X quarter increase mentioned, now million growth the have did XX.X% million loans, second first fundings the and half the
million quarter five the in year, this marks totaled fund This fundings. those million year. in of second up loan the quarters consecutive over of trailing That's In loans. quarter million the loan quarter of new first $XX we in in did $XXX $XX.X fifth The $XX.X million-plus this from new fundings.
of year at Total $XX real $XX is estate fund should of million. rest the end were quarter million $XX of or related have of so ability those next that revolve the and commercials, so. About to and the unused the the those million over most were commitments
prepayment year had second the the just just under loans. I from would be the compares the in first this from that slightly of with to quarter of down. that the prepayment of collected the this guess to The $XX we're year. negative news we in $XX good that quarter be the continue quarter million Payoffs second retaining $XXX,XXX penalties are last second for payoff the up in is year. penalties We $XX,XXX million manageable quarter,
penalties say XXXX indicative did On as in $XXX,XXX would earnings our we're we've in a I include progress $XXX,XXX making those when to penalties. compared prepayment XXXX prepayment of XXXX compares year-to-date were XXXX that in basis, XXXX. collected that to more the non-core-type
June past did we not loans really non-accrual nor We loans any XX, XXXX, much any payments here. upgrade XX than On have end We as the for quality. at discuss days add during actually credit have small two didn't the they to those signs the did in positive the credit at loans did the -- due on we the as to loan make quarter, continued non-accrual provisions some greater to $XXX,XXX of quality quarter, growth. cumulative due
June for then We have ALLL was quarter, about recoveries about to $X,XXX loan $X,XXX and loans in at year-to-date The XX. recoveries. loan the no losses in X.XX% had we
largest well one million The with $XXX,XXX. OREO was We for continue quarter diversified. during real growth $XX estate increase growth. in That's the The loan X.X%. property in the about to was have pretty
Commercial show XX.X% some -- or XX.X%. residential loan and million loans and in was We consumer going in was on XX.X%. $X.X or were million up was was to and up CRE did up up item X.X%. line primarily see the other that's estate sheet. $XX.X Construction CRA the up million in Growth or balance real $X.X million or in growth $X.X
that primarily On construction, the growth was in commercial.
residential million million. During construction down $X.X commercial increased construction by and quarter, the about $X paid
which is portfolio. loan million to consumer mentioned the consumer, $X.X grew in is million. growth other I the $XX.X That category by that specialty On in our that auto
then of about loans balance of quarter first average That did $XX,XXX. about this we balance compares about and the loans of XX XX we loans in $XX,XXX during XX to $XX,XXX. was year, those booked averaging new those During fourth quarter, quarter the the average
rate $XX.X The in loan quarter the on average X.XX%. the million was
actually equity those also ratio end quarter averaged the second existing $XX.X and million We rates X.XX%. renewed of X.X% was loans did March. Classified at the the during decrease of
classified the have being to loan. down the one commercial then it's with OREO X.X% $XXX,XXX and real in assets Now $XXX,XXX estate we
portfolio well And was flow high in with mortgage under quality the under effective four and and portfolio, duration -- investment be changes XXX under our that's under and I'm cash X% up a -- price it's credit the rates years. and portfolio XX% continues no to up is again bonds. rates structured entire really. municipal three to In XX%. average short life That few sorry change the under there of years Relatively the the products again comprised entire a
On about XXst about the that's year the liability it one million. was at million deposits from up $XXX and as million $XXX March end side, same of at at quarter the ago balance, the $X.X
seeing non-interest-bearing. an $X.X still are the market are the impacting think are X.X% Well, XX% pressures some or our quarter. million rate because markets but good see those about well, Those money increases money up I in during actually deposits, pretty of We increase in did holding the accounts. the outstanding are we
million those much balances change $X.X those CD really Non-interest balances. were the or savings and in Interest for increased up not X% increased -- $X million checking quarter.
would guess quarterly pressure rate talked expense. I that last impact interest bit about on a continues. call The I in little the our be
this points, So year. compared was the basis cost up and points the of of average quarter from quarter second funds basis to basis XX in XX the the of last then year in it's points quarter, second XX first
that higher competitive first markets borrowings from this XX money The Admittedly focused the increased year. cost in overnight reference of quarter year usage for quarter an FHLB the more basis competitive in on to that's the accounts is XX points got the this of environment. second costs some of basis reason the points how rate also We've basis. is on the the really
CDs and it the of those savings about really rest The actually same. were
savings and quarter second four X.X% were the CDs. of the for and quarter first on the points those basis So
I X.XX% X.XX% was year $X.X first mentioned to average increased the paid overnight second -- did quarter on increase the paid rate million during quarter. in the those and quarter Those borrowings. the the in this from
term up borrowing reduce overnight that quarter pick to second did of borrowings sheet the balance on our back those down $XX.X in quarter-end the to zero, were we're at deposits those Once so able the borrowings. million
Capital remained strong. levels
the XXst, -- at course risk-weighted risk-based of from Total the that that's down the increased to though June. at switch decrease the from Of XXth, June at there to end to really securities investment March that is at that the as going helped the from from move XX% end we leverage the the risk-weighted to higher X.X% assets loans the actually ratio. lower ratio capital XX.X% decreased March of earnings X.X% increase
You this month. will the may dividend Dave mentioned next morning be have out out increased well that cash seen paid that went release as press on the it
$XXX,XXX fluctuation quarter this close. in of this the in is and income second $XX,XXX the second And that in versus in really. change the in change of quarter last of of second quarter The was gain $XX,XXX non-interest and It the pretty year. securities; quarter much $XXX,XXX sale $XX,XXX year. year quarter the $XXX,XXX on first of this then year year first this in last really the then not income quarter of On statement was here
$XXX,XXX were in second point the did second slightly last quarter service that to increased out and going $XXX,XXX in first quarter accounts. this this though of we the in was the to I'm $XXX,XXX to then increase for in slight year. quarter charges and Those the year of a year deposit up see
side, we and last of months this $X.XXX But stabilized the as year quarters. much million past dollar down fourth have year, we're overall. have from over quarter the down On the in we new million obviously first of other benefit XXXX, and the amount. that's quarter new XX in mentioned well million quarter benefits this up of been expense two the and a saw second I In -- decrease consistent as past from but the team that salary from in the loan the expenses salary earlier the $X.XXX quarter $X.XXX from of increases year also second as salary increased production actually and the
it in change but includes quite other largest quarter a the the the first versus development this year business did to dropped quarter in decrease Our relates costs. second of quarter-to-quarter, of in expenses. this line bit of from quarter the the of the quarter much first items, of of Those $X.XXX -- year That promotional to from $XXX,XXX $XX,XXX that was quarter-to-quarter. million decrease second in this year lower
out develop our relationships. in brand new the remain strengthen markets to We
target market. behind to precisely belt our our spend it and on a have year our focus us allowed now We more
The $X.XXX Couple of this quarter second to in year year increased second that of in time to but in quarter provision effective year. kind the rate here the on last the of second in comments from quarter XX.X% jumps XX.X% tax every year. million year. of taxes. second quarter Pre-tax $XXX,XXX was the increased $X.XXX actually from the income It $XXX,XXX of this last the million, versus out during
over lower-level higher options stock when that when of tax higher is in but this and price During the ASU a exercised received restricted credits market and from of option stock stock non-qualified restricted last quarter, when rate under bests I the went tax we municipal exempt are result XXXX-XX. stock as exercises awarded. when is timing accounting bonds well standards restricted investing as the
did on the actually Actually receive hit tax we if expense the restricted lower well date, higher stock award is the reverse we as true $XX,XXX the happen last compared benefit is in get that as had the a swing. market and quarter a second credit than to with don't price a tax we quarter call a it expense the so in XXXX $XX,XXX second of $XX,XXX year,
accounting rules are getting us. So,
Thank you.
Now, over I'll turn to some it additional back for Dave comments.
