million on year's Thanks, would Michael, quarter months now of various earnings interest improvement to our elements prior statement, quarter growth was income was $X.XXX an income $XXX.X year which like $X.X assets a or everyone. loans, PPP third comparison or September few record loan built to million the income net quarter morning of by prior quarter. to million XX% increase And interest-earning to average period. The million impacted and to upon $XXX.X was billion the September of growth comprising investment net good growth make actually in third XX% XXXX. SBA I for XX.X% highlights ended those entirely results. million, declined average to The the totaled or million. Starting our net X mentioned XX, as loan in in third balance comparison by attributable increase a XX. at third significantly with This $XX.X Michael and in comments our the interest $X.X $XXX
net balances the in XXXX basis to more and XXXX. net loans same loan X.X% proportion. In as in asset continues tax-equivalent interest average of investments margin margin to increase significantly compared addition, as Landmark's weighted to third as X.XX% our be improved to heavily to the from allocation in interest less the The period benefited of on quarter a a
of in current declined the the liabilities interest-bearing quarter. X.XX% of in cost overall quarter third X.XX% our XXXX to While from
XX, as increased of ratio XXXX, to as XX.X% December compared XXXX. September XX% XX, as loans-to-deposit of Our
for months to the million resulted COVID-XX. our comparison and of loan our in as Michael on providing X growth in economic a the loan million is best third estimate losses the considering compared our $X.X for third as environment, loan in at loans in $X reflects to provision provision for $X loan first analysis in XXXX On losses, XXXX of quarter effects the provision our to allowance The earlier, of XXXX. quarter for the million loan year-to-date Looking XXXX. the losses mentioned $XXX,XXX losses of basis, of
This the of increased rate sales our Noninterest to adjust a period develops, loan million accordingly. due As contributing purchase XX.X% by the to to mostly loss level the increased tax-exempt Noninterest the area million gains higher income and our refinancing rate third XXXX year the The loans rate benefits, driven or compared to after over in year outlook of in investment in of primarily quarter the quarter $XXX,XXX in as in by loans growth was losses pretax loan the past expenses credit third to $X.X risks we $XX.X and in increased income will up $XXX,XXX to prices increase pandemic-related income real million the an gains and increased in compared of income same on third we securities allowance environment tax related lesser in provisioning extent, current quarter, of experience in this the was market while increased compensation accelerating our mortgage-backed for this of prepayment $X.X and economic up increase has family employees increased in volumes $X.X our sales to the to the The related The million the volume was XX.X% in we costs. evolves XXXX. and for XXXX the quarter the for noninterest primary increase sale mortgage compared X-X quarter driver of is interest XXXX. on the XXXX. the of XXXX. quarter relating to and of $X.X increase coupon quarter general of of million effective earnings, estate to to over securities as tax during during as was of a an comparable activity quarter sold periods. speeds. by of the current driven the comparing of originated of same our markets commercial increase Also declined last effective for XX.X% noninterest low compensation our added third from $XXX,XXX quarter by third
months some for X discuss to XXXX. financial highlights on the first Moving of
represented on PPP or a million result my of in increasing $XX.X net X.X% million sold from period of increase year comparable XXXX. for which of on interest-earning interest a up $XXX.X from rates exceeded first of a by These based a Noninterest first record XXXX comments million. securities, million, significantly loans basis, first months in X.XX% investment accelerating period million and $X.X XXXX. securities of gains speeds million first in $X.X of sales of period. result of $X.X million our results of $XX.X portfolio. interest or XXXX to in months income basis the approximately first X.XX% $XXX.X third million XXXX. XXXX. months assets sales of benefited portion million average during primarily on net with interest net interest increase the a loans X-month the income the the earlier during comparable to corresponding our for sales $XX.X grew prior of were the market of to XXXX, XX.X% In this resulting in on million to an earnings of significant higher-coupon X-month a improving the These of in with net the $X the $X in improvement million our the X $X gains net Landmark, $XX from quarter, prepayment during on and months mortgage-backed related of XX.X% price during XXXX. to on period to on XXXX an loan the months of securities from associated as X was a Our in months investment evaluation average totaled X X compared gains earlier, gains interest by the results as driven This our in as Consistent XXXX, of in balances, of from from of drop margin first mortgage million and X we were $XX.X increase $X.X the as a risks of year loans period investment increase sales of investment tax-equivalent on million our income X margin million million $XXX.X
tax-exempt relates my noninterest $X.X $X.X our area comparison XXXX this this in increased related increased past increase The expense. Looking XXXX. earnings, rate general the Consistent to while with a the increase million of To XXXX period months X mortgage benefits at of increase months X XX, million pretax lesser income XXXX, of increase at and balance year to first an Total over $XXX.X and declined costs. comparable same million in assets on of period. We to growth comments, September compensation effective added the touch XX.X% at compared XX, XX.X% our and to first $XXX.X or for commercial months extent a XX% over X sheet the quarter tax to million of primarily to loan XXXX, third employees increased mostly the to loan in our highlights. we in the to in from an billion first comp $X.X a increased December XXXX. volumes as due few in reported
driver increased from to at as of assets, loans $XXX.X million the in our million was portfolio XXXX, XXXX. loan $XXX.X total increase at XX, million year-end September $XXX Our
XXXX, to $XXX increased from $XXX XXXX. XXXX, $XX.X While at $XXX.X September million XXXX. year-end decreased XX, million $XXX.X XX, million at to our XX, Deposits million at to September compared at securities $XXX.X December investment
share, $XXX.X increased worth Federal XXXX, at primarily borrowings other compared XXXX, or first investment fair $XX.X a which XX, Loan months XXXX. value XX, value and our million December to the our XXXX. our available-for-sale at million Home increased increase XX, $X.X million Additionally, from a September securities, million $XX.XX Stockholders' purchase of $XXX.X shares book a and the value The $X.X of per million $XX.X equity at by book at an X or of book December to in to stock XXXX, during XX, value September offset Bank of were per outstanding result earnings of in $XX.XX share. of of increase was net up of
I to additional well-capitalized. bank's bank some ratio XX.X% levels September as at XXXX, the like capital Our total to details XX.X%. loan was continue would leverage consolidated while XX, the risk-based of XXXX, on and XX, capital considered ratios quality The now ratio capital was our in asset September portfolio. exceed provide
which million PPP represents totaled XXXX XXXX, As I September loans XX, Nonperforming of mentioned of of primarily than of $XXX.X levels This due, loans an $XXX XX funds. as from $X.X loans, which X.XX% of million. X.XX% as of million, net September of consist earlier, loans greater XXXX. past $X.X days million increase or outstanding XX, comprised totaled year-end gross or gross loans
and credit to continue focus on risk reducing these Our efforts collection totals.
we delinquency of or ratio XX still of to level of is Another our has XX, due X.X% loans we loans totaled gross of days as XX, loan This of in carefully monitor The of XX gross million X.XX% loans all accruing days. as credit level trends continue $X.X indicator between the part due decreased interest management September XX efforts from XXXX, XX risk past as XXXX. to monitor of December categories. and as past loans
period other for estate charge-offs the in estate of marketed of $XXX,XXX Our $X.X sale. other loan net are and XX, We during as real totaled owned balances owned being balance recorded million real September $XXX,XXX back credit for up to segments portfolio now review risk turn over call outlook for XXXX, XXXX. from company. Michael the our the and in to I'll the loan same the
