everyone. Thanks Michael and good morning to
Michael June mentioned XX, second the a now few comprising our I'd comments those net elements to results. ended months and quarter like six make And various XXXX. for on earnings
net attributable an statement prior to in to interest year actually to quarter. investment quarter our year second net growth average quarter $XX.X loan million second or This comparison increase earning a entirely prior Starting was of of the interest million was comparison attributable as period. assets or was X.X% in by average $X.X increase X.X% million. million highlights, second income income growth $XX.X $XXX.X declined in balance to The in $XX.X million, with the $XXX,XXX income interest to the improvement
The in assets interest in short-term yields benefited significantly increase the earning interest of of XXXX Net margin tax compared XXXX. second in as on period to both our loan balances net quarter the a same rates on margin on and liabilities the interest interest basis X.XX% as increased. improved equivalent X.XX% average to the from
to of resulted as the allowance of the the XXX,XXX quarter compared the in XXX,XXX provision our our losses, at for XXXX in providing to second for second loan losses Looking in of allowance analysis loan XXXX. quarter
the income XXXX, impacted in $XXX,XXX Non-interest quarter other quarter was non-interest compared period income in a in XXXX. the on by decreased, same to primarily that loss occurred deposit decline XXXX. of second third XXX,XXX of reflecting the of comparison $XXX,XXX to recoveries million of or X.X related The a XXXX X.X% during
yields originated million gains Additionally, $XXX,XXX loss X.X the in we volume charges. in comprised during of sold of residential fees second of by estate totaling of increases investments investments balances family with sales loans were of small and X-to-X the higher offsetting Partially and quarter for $XXX,XXX XXXX. sale, lower $XXX,XXX real of driven loans resulting service a in declines on
This increase second four expenses Our employees related the added primarily our $XXX,XXX $XXX,XXX compensation non-interest quarter part over and an of in driven quarters as increased compensation area in XXXX. was by growth in past this to benefits to in also comparison commercial quarter of to second increased the we costs. by million loan to general $X.X and
XXXX. the pre-tax tax lower despite during option rate the benefits Income with in second increased XXXX. tax XX.X% second recognition the expense quarter due XXXX of of from in XXXX, of exercise effective of our of in stock second the With options quarter stock the second tax to of earnings second XXXX the during associated no $XX,XXX quarter the XX.X% of excess of exercises increased quarter to quarter
than part of XXXX, Earnings lower of to first large the million earnings net $X.X our $X.X for evidenced on in some a XXXX. return assets by in in first by discuss as increase net financial our Moving the strong highlights the supported on average million achieving months X.XX% of remain loans. six was half
assets during average a XXXX. million $XXX.X to we of million increase $XXX.X million achieved interest a result first In XXXX net half from earning XXXX, in X.X% the the six or months from during earlier interest X.X% income of a first of increasing $X.X year as
months XXXX. net six margin of first the comparable basis in average my in a earlier on basis comments net six-month significantly $XX.X from a million the of interest quarter, on XXXX improving resulting second in a our interest with period loan Consistent benefited tax in X.X% margin balances X.XX% to period on increase from corresponding the equivalent
or of due loan for increased as provided the half allowance XXX,XXX balances. non-interest year months we reflecting in During of loss related the a first XXXX. Non-interest This primarily of other to first $XXX,XXX income during period. months to the the XXXX, a decrease the $XXX,XXX six $X.X six results in in the to of from million totaled $XXX,XXX decline $XXX,XXX of prior deposit or compared the from income on XXXX large the of XXXX, X.X% first part XXXX recoveries during
as non-interest period reductions of a in reduction $XX,XXX increases the and these during during were offsetting to loans a of securities to sales first service fees XXXX, sales XXXX. $XXX,XXX contributing of Partially gains the of $XX,XXX on was loss on of investment income charges. six compared gain months comparable of in and the of $XXX,XXX Also in
an we increase over increase increase of XXXX. benefits Consistent with also $XXX,XXX expense, increased second X.X% of the in to year of to non-interest a related past the and to this compensation relates added primarily six this mentioned area in at for as commercial employees and loan comments month $XXX,XXX quarter or compensation first XXXX, growth we to our due in costs. my Looking same general period reported earlier, the comparison
impacted decline of by which the captive half during $XXX,XXX XXXX. in Partially expense, of first offsetting a other insurance are increase this was that loss the subsidiary reserves was accrual of non-interest
XX.X% of were XXXX the from XXXX, the the the of XX.X% comparable six While XXXX period effective the same stock our of as the six months pre-tax first the six of in of result excess exercise XXXX tax earnings rate first of as first from months half for to primarily during increased in $XXX,XXX options tax first months the a XXXX. the of of recognition of benefits
To December billion touch June XX, $XX.X XXXX. $XXX.X balance total a to XX, million at highlights, at compared on XXXX assets million to few sheet increased $X.X
portfolio the XX, million end $XXX.X million at quarter $XX.X million loan at increased during Our $XXX.X XXXX. XXXX from year to June
December XX, million XXXX year Deposits $X.X XX, XXXX. at million of increase from $XXX.X the value at $XX.XX a XXXX, $XX.XX share, investment earnings $XX.X or to million a an share $XXX.X at June at available equity net compared of $X.X securities a XX, million XXXX, from million of December in $XXX.X securities. value to book increased per Stockholders XXXX, fair Investment increased as June XXXX. primarily $XXX.X to or million end sale million to decreased value for $XXX.X June result up and at XX, per million XX, book at
ratios, while was XX.X%. June XXXX, of bank exceed as considered continued well XX, risk consolidated capital at capital Our levels regulatory June based banks The ratio was capital leverage ratio the total the to and capitalized. XX.X% XX,
some I additional would loan like to provide details portfolio. our now regarding
of earlier, X.X and days X.XX% XXXX relationship an June of as X-to-X which and million. represents past of or the to loans net of $XXX.X commercial As relates million mentioned totaled of consist I loans, consisting This loans. Non-performing of loans totaled and X.X gross XXXX. one a of as XX, outstanding million June loans greater from than XX our primarily estate due residential, level real loan, XXXX loan year-end construction X.XX% increase commercial XX, family
these continue risk on focus reducing credit totals. collection Our and efforts to
loans part the XX totaled level has between as days December X.X loans, XXXX. XX The past that due risk is as due level indicator of monitor XX past Another efforts we credit our of loans of to management days. June XXXX. from loans ratio XX, X.XX% as of X.XX of of accruing interest million gross still and XX, or gross increased XX This
on all loan monitor to carefully We continue delinquency categories. trends
XX,XXX as being XX, other balances of and residential balance Our are are or totaled marketed and other June estate-owned estate-owned of real which sale. houses for real assets, the comprised
of same net recorded XXXX. from during XX,XXX during $XX,XXX in We period loan charge XXXX up the offs
to I outlook credit will back company. portfolio Michael segments for to the now loan the the review turn our call over and risk
