Thank you and today. us thank Angie. joining you, everyone, morning, for Good
longer-term value. of preceding the million on second by created we To $X.XX or extent, a in profitability the our financial share of diluted quarter. driven per our We $XX.X balance that $X.XX sheet place significant the expense and generated control. the in and by has challenges by accelerated initiatives the $XX the diluted disciplined first the solid per Slide of Let’s continuing income have enhance results. some quarter, franchise number We a presented overview or earnings, begin pandemic share our million growth up of well with in X strategic delivered with quarter executed brief and a from despite pandemic progress environment to net COVID-XX
able with maintaining to the are leveraging we disciplined effectively control. we expense cost structure were generate, more balance while growth our First, solid sheet
Our from quarter first X.XX% non-interest assets the quarter. in expense to average preceding second improved the ratio in X.XX% to
significant quarter, progress deposit to second deposit which mix. we and continue initiatives the deposits, during enabled with improving Next, inflows had our our has us made of very core strong
increased prior quarter, the the from with growth of end non-interest-bearing majority Our total deposits. the in deposits of XX% that vast coming
a at increased earlier. to non-interest-bearing XX.X% XX.X% As a result, XX, of deposits from up deposits total June year
from deposit to our deposits to preceding the XX Over our our of basis time ability cost reduce combined cuts with second of deposit points in to a XX basis time total our deposits. decline XX.X% of period, the pass-through same from quarter, mix customers decreased have helped quarter. XX.X% improved The rate deposits points the to to
Moving of X%. million than the new preceding We quarter quarter, our was The in approximately of annualized X. total the of originated our on an of came higher production with efforts. XX% million development, increasing loans strong Slide was than to $XXX million second loan business to which the development traditional rate first in in We loans quarter XXXX. same $XXX $XXX PPP XX% had program. and higher the loan at business quarter from attributable remaining production a
$XXX SBA quarter, efforts the the $X $XX loan quarter, $XX a small million and C&I estate production, loans in Excluding residential million. consisting production of consumer originations had primarily of had real With our approximately traditional we to of of we million commercial this million during just loans, PPP process mortgages. loan concentrated amount nearly loan PPP production,
on loans quarter. to Slide Moving in X. share second originated information to the I that about PPP we some like the additional would
we earn loans fees. Excluding within million in of were $XX.X expect approximately lenders’ for $XXX PPP we net aggregate of funding, days that loans XX of had a in $X paid million to which off million PPP
were majority loans X% less a the As in amounts and on $XXX,XXX of earning PPP vast than that the slide, we fee. this shown processed
that under of $XXX,XXX small Looking you customers. Hope’s at business position process, leadership underscoring the continued for were applications of number PPP can see Bank loans these of XX% the
relationships that new grow hope loans XXX larger the customers, the vast While to majority customers PPP we of into existing were future. the for added processed we in
X. Slide moving Now to on
our we billion granted, modifications through loan borrowers June Let to accounting program manage At for me implemented modification XX.X% impact portfolio. the modifications portfolio loan consumer our had represents discuss to the the deferrals for our of largely loans in of help mortgage total related approximately The million pandemic. of loans, loan C&I with which we loans. XX, and million in residential are $XXX just $XXX the $X.X CRE majority payment
the In the modifications and to then. timing, of of in since mid-April have the modifications can terms these fallen from slide bottom off of see at mid-May, you peak chart was our the significantly that
loan majority were As or you can see short of our of deferrals more than XX% XX days a in chart, the duration loans vast modified less. or pie for the of
now their the these need, We in any, borrowers deferral discussions of for are with having process to support. if determine additional
customers our have pandemic proactively throughout We this reaching been out crisis. to
XX%, While we discussions our project on approximately it currently a expect early a to of degree commercial or will high the deferral. to minus, still too our with accuracy of date, due borrowers is situation, based fluid plus to second request
consider borrowers payment type round those be like will best support we that collateral, additional For modification the other credit – concessions of or will be second of enhancement additional requesting will form in reserves requesting a some a effort of basis, guarantees. on
most impacted sector hospitality is been Slide clearly pandemic. have the one industries by Moving on X. to heavily of that the The
of would borrowers. hotel be and anticipate of such, modifications from will majority motel customers second our As we round the our a business requesting
a located MSAs much positive hospitality our previously which we month-to-month noted, of operate. for in portfolio full-service flag much service by operate represented the and these major than as of On our note, impacted and will largely be at of they destination We properties. properties than is exposure have factor the been and also hotel a sooner facilities properties limited believe sector. pleased in XX% these lockdown operators, are our that composed type occupancy near is see trends the number of other However, the property able breakeven portfolio month by or is XX% in another larger stabilized have positive less is felt of June. have our the – other to been to during we hotel/motel that types properties the It hotel for hotel/motel rebound
also as having on debt is down occupancy That second impact Even said, We behavior income of the enable their they other sources us will of have some will deferral. have not customer agreed are have servicing upon. that duration indicated though them resume the have to it borrowers the they who and been of liquidity already would economy pandemic hotel year-over-year, trends or than and any the require like. a lasting longer
result, we improve. may flows of support by a expect until way relief As our of additional need further cash their payment borrowers some hotel/motel the majority
into it normalized will them current low loan believe medium type available. in terms portfolio hotel period expect time. comprehensive remaining take the include economic operating one in of we placed approximately this We of our categories: customer such review of categories. that an quarter, remain in analyzed three we each have a for the assumption lack stabilize more airport and recovery, the hotel/motel such last occupancy or a took placed to loans and the the cash Over flow. or XX% level trends properties The very will given of of This where as extended medium hotel, base location, credit to as review, and the place on return factors XX% review the we into by and how our Based account rates general were travel category loan. of the property to were business of where high hotels, occupancy high, that low, undertaken long a our muted
of on factoring anchored properties of the grocery this of we recovery on believe strip many by when loans, these as experienced properties is this in have play before, any our which retail be However, out, larger noted types period of these to guarantor properties, our and are are With CRE loans to losses regard scenario And the we largely retail portfolio, extended will should potential LTV markets. of the low tenants majority manageable. of mall businesses. an represented be service-oriented by support
country reopening, various of phases these cities and states social service, As are of requirements. operating at distancing observing the limited some most many across degree tenants in of are
of our stability level owners, our an segments to anticipate round portfolio. to currently of to As number our June have two also tenants, that these on their we extent receive to further these of our thus, with ratio the such, Underscoring the same not we increased discussion retail these some deferrals, the coverage date rent of and XXXX, will see borrowers. to but our are a payments fair from CRE retail and XX, beginning are property of Based additional we COVID-XX, customers, large, beginning some borrowers our of for hotel/motel operators. need as of impact by
to increased March XX, X.XX% from ratio coverage X.XX% For as the hotel/motel properties, XXXX. of
Excluding coverage impact of for the be accounting hotel/motel would X.XX% discount, our purchase portfolio.
properties, CRE retail to XX, increased impact For of discount, portfolio. purchase ratio of from And coverage CRE the X.XX% X.XX% X.X% coverage our accounting would for be the excluding as retail ratio the XXXX. March
financial Alex? I quarter. details Now Alex for provide will additional second on performance ask to the our
