you, Thank Anthony.
balances. and loan Let's jumped impressive income net level we grew primarily rates billion X.XX% the the no from million driven Average on security longer yields the We $X.XX begin increase sequentially our margin up loan interest our charge net first lower was that second interest recent combination and increased loans quarter The our XX have for production. to that quarter expense with interest a in did that Net X.X% higher. income, million the previous related of in nor growth interest our subordinated noted the have sequentially of quarter, cash with yielding we an redeemed which basis our the redemption, interest we to $X.X $XX notes, Bonnie general from we where factors. pushed points. and XX% from loan stellar funded
net if the second point last points the basis would X.XX% did see which occur. to our interest factors increase the you note previous subordinated from to XX these redemption, arising margin, basis the XX for the recall was we We same this quarter quarter. save Turning led indicated which quarter, from
as mix on to the loans. yield the loans XX a increase increased of C&I from in points well as general from interest basis Our rates level shift
where XX deposits earning to from in basis only but previous remained fund rates, higher shift deposits. increasing points, on from yield in while lower cash our increased partly yielding X.X% non-interest-bearing from deposits assets interest quarter, basis our cost basis yielding to use of the three mix assets in only XX demand cost because the in also five the points the interest-bearing loans. the of all basis growth part low of points also at points earning increase importantly, increased we And Our
quarter, loans income for second on quarter. XX% premiums Moving the our the XX% SBA for second $X.X X(a) the gain trade as increase the posted to we on, quarter non-interest prior increased X.XX% million, of The X% from to XX% sales. for as while volume declined $XX SBA was expected sold a in up million quarter
X% finance for favorable from the XX% sequentially. quarter up higher revenues pushing We trade expenses at for also under benefited were down activity $XX.X Non-interest million, these second second quarter. quarter, prior from just the the
increases merit expense and together the annual our declines of strong X% the Our start which increase in to and salaries adjusted were production, of other second with benefits estimates for quarter continued incentive our categories. the loan beneficial in all the taken began at increase this we Offsetting quarter-over-quarter. compensation, led
factors $X.X at lower relative loss and slightly X.XX%. on ratio primarily improved million. while expenses, qualitative non-interest a So, credit $XXX,XXX, portfolio. modest our at loan was for increased quarter, prior slightly, loans We and $X.X unchanged. from XX.XX%. with essentially loss in loans The losses allowance but loss for factors allowances lower slightly Specific million based remained increased up loss efficiency total growth $XX.X for recorded of factors Quantitative second quantitative for quarter quarter, to while allowances expense the qualitative second quarter reflecting end, our declined credit declined the our the revenues for to million the provision
in and income our rates the conditions average was However, of the rate on X.XX% bank diluted share uncertainties of reflect The unrealized quarter sum, capital interest and return minimum X.XX%, future these ratio great during of begin return down to economic $XX.X from or loss a environment. after-tax $X.XX on a of with a factors our assets net a company prior average and quarter. from on due declined securities the equity million, In now quarter to the XX.XX%. per increase in assets equity portfolio the primarily of the stemming regulatory tangible exceeded ratios to that common loss tangible rising
to have of we our XX increase. deposits quarter upward second The of forward, maturing point basis on rate positive cost end inched know that mid-June Fed's the in rose over the these the the to Looking increasing reaction cost deposits response deposits of our time rates too. the at June non-maturity the also
a For paid July of the of the higher basis beta cost Fed average quarter measured deposits basis against rate. June about funds rate increase the in for to-date, second point our interest-bearing XX or than the when approximately points was XX XX%
As of loan increases. Fed's may the second increase future as will next outlook moderate their heard, we year, growth you be the rate we in the well and as tomorrow for that also what anticipate learn half will rate
increases As would year, such, of for to margin begin about finding rate were net second that we higher that in would net and over we level expect the before the if from environments. diminish revenues the new that basis their points half anticipate, of to interest second our quarter XXX rate interest
that SBA we gains addition, too that trade and In could diminish SBA also on would our expect sales. premiums decline
to healthy. would expense Bonnie. pre-provision careful pre-tax, we with it However back that remain very earnings management, turn anticipate that With I'll
