hope and and this most Thank good you are and we And morning. coping that well Len, unusual with families your you, environment.
conditions. exceptional to our I customers employees who First, continue difficult applaud our like service to would provide to under
on Paycheck commitment We sound to brand business proud of challenge I'm a disciplines from safe met team from have to conducting loans. for while the various of have our extremely members deliver requests the manner. way and customer, Protection the our Program in continued our the onslaught promise,
loans directly secured to $XXX have also option. the a and ordered million, We customers XXX for PPP FinTech of total apply opportunity a to
excluding results in on impacted great adoption, Like for a fees. We share adversely average to companies our merger core return related reported most financial our pre-provision pandemic, January due earnings a quarter $XXX,XXX CECL. professional quarter, of in with our and as effort. was team X.XX% industry, of this assets the the were of the shutdown per X economy Now pre-tax, first of by $X.XX of our
the and for have merger from third of an meeting in virtually quarter closure. The regulatory our already have filed planned March, planning applications been We teams both Bancorp One banks and bank SB with agencies. our announced integration anticipated
the in March Total threshold. $XX billion assets XXXX billion, at $XX.X increased to crossed asset finally XXst, we as
at with commercial outstanding COVID-XX. loan had quarter. billion, $X.XX and balances but are hard been some We industries originations loan $XXX Our for hit March that of were the believe there our customers portfolio million XXst stalled loan by
before a level on detailed or We of eye economy and are customers $XXX of million, hotel exposures XXst, the after XX P&I hardship keeping any for approximately for where deferrals, none the which restaurant longer of close our down of documentation in quickly deferrals agreeing the industries $XX days. retail, loan requests We than March respectively. million were shut mid-March. The rose granted million XXXX to require $XXX principal at in and combined were
principal good the we secured $XXX estate by loans in should which to XXX requests and in business Today, payment commercial event million assets, on recover. These and are loans cannot real totaling and the a mitigate for customers are have deferral processed losses documented borrower balances. most part other
modifications principal greater or totaling afforded of make been to have payment loan have Turning terms borrowers to to to by COVID-XX portfolio, impacted being balances. have accounting in deferrals able payment adverse consequences. with Regulators other banks work flexibility and and to triggering encouraged without TDR mortgage had borrowers, for we approved losses who in our XXX $XX hardship residential consumer job and million deferrals loans due
and duration. extend believe deposits and a remained as their On deposits the no and deposit near likely checks accounts. and quarter balances growth there Liquidity of inflate funding of stimulus we still been to remain have will borrowings incrementally our core price side, total lower XX%, at and costs over deposit our have the PPP from growth We deposit down cost over core the percentage the we continued our ability although strong in on runoff satisfactory the while term. next time
due to timing loan On couple quarter. expect outlook, over see in The to the floors primarily has quarters, in of margin many next and the late rates zero we to rapid and pressure the decline pricing interest we extent impacted first loans. rates, to continue some in on the of changes require
credit the pandemic. expect to was negative in quarter our A second the earnings quarter. the The CECL major of economic impact that the a by in forecast worsen million our will adoption of as provision first economic X. as QX $XX.X impacted of is We in CECL our can reflection January the in used model likely for outlook losses
same Xst, XXXX, the fees from T&L loan completed million with level higher the acquisition with $X.X quarter. in having increased current been income the along period in XXXX, April Non-interest on swap
key items several the under likely pressure economic to will -- slowdown. due come income However, items
Our in near management fees, current management largely by assets as the values likely decline the wealth will in asset driven under term decrease market.
orders Overdraft fee spending and limit fees, their comply shelter-in-place may compress services. to continue interchange consumers income essential with as also to
side, and costs expense to the executive were On on financial provide Tom severance the our Tom? first results. more acquisition the in recognized detail there expense will related quarter.
