the review our Cory in Steve will our afternoon. call, financial discuss more I growth granular highlights with bank. our quarter will strategy designed second the results to more of and On XXXX will XXXX organic detail Steve accelerate loan conclude results. briefly good you, a our and of initiatives to Thank grow second today’s quarter review and
points will would call We you questions. take your five to that I call results. there are second today’s the open like quarter from then for and our To start, away
continues the protect are Texas given in the to customers. environment normalize. our environment the and the we monitoring any cases are to closely That make to accelerate Delta activity economic employees said, current due prepared First, rise as and has necessary variant to quickly across adjustments to continued
expanding of with Second, while benefiting we this of our major portfolio a are but improved are are the of actively and our focus activity, on markets, also particular on markets all economic across bankers from and we process our in focused loan hiring Houston. Dallas metropolitan
we put conservative loans, in credit as quality we for our maintain liquidity our we margins Fourth, organic expect earnings as growth we improve. never underwriting loan we growth. to excess increase accelerate to as standards and work see returns our Third, growth, our will expand, will sacrifice
we Lastly, a thoughtful and allocation time pursue growing buybacks, dividend share M&A. tactical over on and capital maintaining strategy focused will our continue to
XXXX. of last quarter $X compares which quarter the million, quarter. to which in of loan million and of $XX.X $X.XX per $X.X second pre-provision million, second the our XXXX second reported income compares of second the Slide results which second for $X.XX common expense $XX.X we provision net net for was We had million or per first to share $XX.X diluted common reported of on year’s million to $XX provision loss a in we Turning quarter of income XXXX. XXXX a quarter quarter million in the share, or in The XXXX quarter diluted to compares pre-tax of that $XX.X X, in negative of XXXX second million income the
momentum Permian economic in the are for activity that an and an be This credit Basin. can loan and our general improved also in acceleration credit we in the customers’ this portfolio, strengthening positive we migrations Our are generally activity job and and reflects West of expansion demand our seen where we as the increase in seeing drilling rebound release our housing loan our for in growth portfolio a of is year PPP the expectation credit improvement These particular, forgiveness. economy. trends to growth loan second Texas, as half market, work to and improvement prices overall quarter experiencing X-year driving which In in of loan at high. our the provide is reserve the are continued to in corporate energy leading seeing through is robust now pipeline while offset confidence in we the the maintain
mid loan We support portion single-digit can an deliver in that additional are returned losses we that and to for XXXX of loan to growth loan our can be reserve growth. capital hopeful
across services. backdrop very where the expand smaller, redeploy hiring and to liquidity into While excess Dallas bankers market our organic generate markets working products low-cost continue larger our healthy, we non-metropolitan our our in on strategy are all our for customers is to growth. The a approach markets focus component a deposits and markets and our and looking we banking superior of by to relationship-based key urban our believe opportunity is with in our experienced are targeting loan originations Houston, we also to for
end points second ratio and market XXXX, currently in a a XX%. of establish work at deploy provides markets of significant to we XX was stronger was have compared We advantage in our share. our excess competitive liquidity quarter presence to quarter metropolitan quarter as the the gain XXXX. our as loan-to-deposit basis first cost the second basis This of as XX funds to of the points For
achieving than experienced and X way goal a on team moment. detail discuss bankers are well in our more Cory by We have our progress in growing years. made lending to XX% of next our the good hiring over this will more
shareholders. allocation thoughtful value to loan a our our continue we strive As create to capital organic strategy accelerate for also we will employ growth, to
consistent our quarterly through capital We continue return dividend. deliver our of expect share to repurchase program a and
quarter During XXXX, repurchased the million program. shares common we under approximately $XX XX,XXX our of share repurchase second
share $X.XX this past paid repurchase per is and of quarterly XX, quarterly a in per on Additionally, consecutive from August be of This to will dividend XXXX share April XXth believe $X.XX August pursue to dividend X, shareholders quarterly which year. on last be of opportunities. have stock this our We will Board of M&A record capital dividend the the Directors we week, of our strategic both that authorized our program and XXXX. up
bank consolidates an in our capacity a We us have or that opportunity existing the for either a position to market acquire new opens market.
over year. accelerate in the next Texas We expect M&A to activity West
finding focused significant with complement similar bank value a that culture current well suited are a our on to We to structure. is and add
where rural in the We are with banks changes next at years. over there deposit leadership be good could looking few franchises markets,
mentioned as As more markets we there platform. we Texas loan $XXX our organic XX banks previously, on we will the assets focus billion than West are to metropolitan $X in million with redeploy in as expand We in our potential then excess deposits continue those into range. believe targets to
will do not a deal. do Importantly, a just deal to we
of valuation. expectations cognizant and price-sensitive on are We market
our platforms that we operations by we are As our in also through the digital utilizing investments the on positioned for the improving years we bank The technology. have further the pandemic. focused success over made grow bank, COVID-XX
as to roadmap. starting two our part of are further efficiency opportunities Looking forward, enhance technology our see initiatives we and
new to our qualified After become a yield this opportunities focused refocusing leads targeted analysis, and The more of first while We business digital medium believe much is have we more media. effective. advertising more decided and on ultimately, being cost digital thought marketing. will to
expect generate the digital As we transition a spend. to return our we rate dollars marketing of internal strong media, to on
modestly that growing we higher we the our the initiatives. these is execute proud As conclude, to technology data our I the this as computing part the a process bank will pursue am cloud initiating this quarter success migration data we and have increased of of more the for right to as and two costs. believe expenses time storage We maintenance I IT results long-range also of pleased am are the and continue quarterly as on to achieved. plan, we our move very and expect provide value second security, To very with to our lower seamless focus center a on run-rate we believe this over near-term
year, annualized return we our tangible and book average of by Over June on have the grown per last value basis improved $XX.XX to points share XX, XX XX.X% both assets as by XXXX. X.XX% to
South Our local making the and robust team, our Financial progress are positions Plains which for solidly future. growing are economies banking strong we
Now, to Cory. let turn over the me call
