in lower lower $X.X the lower securities. sales first income gains XXXX. loans, to due financial gains Net a sales income $X.X on of mainly interest net in Michael, Thanks, of quarter in of decline was to Michael to by has And to morning talk good and our our already of about quarter million now first performance I'd further like and alluded everyone. XXXX on investment million, XXXX results.
net period same interest to comparison last million, year. quarter X.X% or first income XXXX, $XXX,XXX the in $X.X In of decrease the of a totaled
other as first was commercial-related down by of of mainly While decline but interest quarter quarter the PPP decreased income the and result by basis, deposit on offset quarter net quarter a Paycheck the interest Protection net year XXXX Program, income fourth last loans, costs. linked partly this was from in lower interest $XXX,XXX. or well on The as
$XXX,XXX this the equivalent declined $XXX.X compared quarter yield quarter the same to quarter. over balance period. compared to in same interest period last has X.XX% the last loans tax last and declined average XXXX Interest to by quarter on year the PPP X.XX% X.XX% portfolio while first The year, PPP on loans million on of in balance by first PPP the the declined the loan
income yields. offset in to The of quarter period the yield current lower same on to from XXXX declined X.XX% a which on average quarter, year investment $XXX.X due in investment in to XXXX. investment the balances this quarter $XXX,XXX the was million, X.XX% first growth securities by in last to increase Interest from X.XX% fourth quarter securities compared the increased but an of
rate in from the on compared lower to quarter, rising first of interest-bearing last well in declined basis points excess average $XX.X in first to the focus XX perform points quarter the a a remained from balances deposits million basis resulted XX of cash balances offset growth Interest XX in investment totaling and investments the shorter that on quarter of The rates, basis deposits quarter. on duration costs total portfolio quarter interest-bearing quarter last due with should into deploying in of points this deposits. environment. treasuries Interest growth XXXX XXXX U.S. $XX,XXX expense low year by first current in
equivalent as in on the quarter of fourth basis the to X.XX% first XXXX. compared interest in decreased quarter X.XX% a tax to net Landmark's margin of XXXX
loan-to-deposit Our fund low, at growth. loan March ratio, XXXX, totaled giving to plenty XX, new us of XX% which remains opportunities
to loan we our in PPP ratio X.XX%. reverse loans, to the the credit Based XXXX. loans economic and year-end loans XX, the $XXX,XXX our At in excluding allowance on loan strong decline results reserve gross a of this first recorded our provision PPP of losses was the quarter, of March quarter loss for XXXX, analysis loans, excluding a environment, at
and to losses evolves, we credit outlook adjust our As our accordingly. provisioning allowance for continue will economic
bank million the that originated. decrease $X.X was this the a declining while $X.X to million of of totaled sales estate $X.X due X in to million This real year $X.X decline period to comparison the in million the X XXXX, by compared of linked mainly quarter, decreasing first prior quarter. income to same Noninterest last quarter over family loans
markets, in current the During mortgage when lack strong. extremely and year to with compared quarter quarter, slowed coupled last as a refinancing activities rates, interest the first housing was higher purchase of activity our inventory
of of securities in $XXX,XXX quarter gain that an offset current of last year million were higher by same The fees of and XXXX increase the occur sale investment declines the $X.X on a the charge over quarter. not did in These municipal first included income. coupon service quarter
$XXX,XXX The These was first expense Noninterest $X.X decreases expense prior of by data primarily lending of in were $XXX,XXX offset million, over XXXX mortgage related by of for in amortization over $XXX,XXX lower a lower the $XXX,XXX totaled an of along of the occupancy first last processing with driven quarter the in partially quarter benefits, expense. XXXX than noninterest year $XXX,XXX and period compensation of quarter. decrease activities, the same was declines decrease representing decline a to in equipment. $XXX,XXX and increase and in and
from recent commercial quarter PPP X as million reductions first loans. The the loans, effective stable quarter Total I quarter, of $XX.X the in decreased Gross for and quarter first agricultural and down during tax first during the rate excluding loans, quarter, mentioned, lending XXXX. other the assets at XX.X% current XX.X% ends. of in each to in both the was remained billion $X.X related
funds, $X.X by Our of cash million. cash in during billion securities investment of to of and while $XX.X growth million in deposits $XX.X the the part to decreased public equivalents due quarter decrease $X.X funded million seasonality in
rates. at value $XXX.X were to book a our was million to equity The per investment decrease March $XX.XX the interest decreased due decline which XX, value value by of share. higher Stockholders' XXXX, impacted to our in book and in decreased fair securities,
considered capital as bank ratio XX, XXXX, and XX.X%. regulatory The levels XXXX, consolidated Our bank's and ratios strong March capitalized. risk-based of was are be while total was leverage at ratio to very well exceed the XX.X% the XX, capital March
over our turn loan me call review and to let portfolio to credit of risk the outlook. Raymond Now the highlights
