Thank you good everyone. Chris and morning
diluted our to quarter the reported Chris compared was million $X.XX noted of for $X.XX or per second XXXX share per or share and As net million $XX.X million income $XX.X per or $XX.X diluted $X.XX the the attributable recessionary credit Earnings were to COVID-XX quarter for pandemic. diluted economic standard current share adversely elevated losses impacted CECL the trailing and forecast under in again by the quarter. provisions the for
of related for One credit excluding extend This commitments the million equipment provisions incurred $XX.X and response $XX.X our related credit $XX.X and merger. upcoming in specific we costs earnings compares $XX.X customer-facing quarter losses to addition, merger excluding and in SB and security million SB the with $X One. professional charges and million with of for COVID the for costs were million to million supplemental pay XXXX. provisions Core second costs loans costs pre-provision merger-related and fees quarter COVID losses on In to for $XXX,XXX the of employees to trailing pretax PPE credit including
points same period interest net quarter last XX the versus XX basis versus contracted the year. trailing margin points Our and basis
in against produced June liquidity PPP $X.X an XX. rates and As XX% in that margin deposit the levels million the XX remained sizable money increased from swaps, $X.X borrow This all combat borrowing basis X.XX%. the portion loans interest accounts trailing cost Noninterest-bearing earning to point average deposits resulted versus total To Average This decrease continue a asset the attributable cash that points. noninterest-bearing $XX attracting PPP at deposit pledged the trailing excess average management for $X.X and compression, declining billion quarter total deposits the basis to funding. this and Noninterest-bearing quarter collateral continued elevated averaged and quarter with or decreased downward. levels deposits with lower billion quarter. deposit we rate reprice market yields. XX of funds of in growth to a on to points billion coupled basis deposits stimulus of to increase was emphasis cost on XX a
at $XXX the Quarter XX manage trailing largely loans offset by XX. costs totaled versus will was quarter basis CRE, trailing The loan growth to quarter million at has credit line June for originations rate points Pipeline PPP totaled million We quarter at advances quarter. to in the was pipeline in growth excluding liability X.XX% XX. as environment reductions continue $X.X totals XX with $XXX partially billion. million increased was last consistent the C&I, consumer June June at of since end $XXX and as loans Loan which increased The evolves. rate net the mortgage multifamily thoughtfully construction driven residential and loans. by
granted credit ongoing in the for loans on as charge-offs reserve million for million to losses for quarter the deferrals percentage forecast. We deferral with net are assets trailing in as from annualized The or at annualized from and million to a loans properties decrease basis hotels secured of short-term LTV provision a to for $XXX loans second their $XXX this average the retail a their credit or been this secured the initial The million was $XX allowance weighted the total Nonperforming XX.X% be gains loan X.XX% million period model loans in of from weighted the points declined deferral lower quarter with deferral. by that of regular pre-COVID of with impacted real trailing remainder date. X, loans. quarter. million as life compared points of a average of from on XX%. Of in resumed $XX.X in million payments the versus the to build loans quarter. Noninterest are trailing have $X.X basis declined and of the $XXX $X.XX or current their XX have fees loans at to quarter deferral pre-COVID of wealth sales of concluded and $XX loans trailing $XXX Our reductions million a life of of by loans owned. with consumer swap restaurants insurance trailing severe for XX. decreased expected mitigation COVID significant on peak payment X.X% million of reflects economic compared that the losses million XX% X.XX% loans $XXX estate required fee the efforts of average or in CECL million net average total quarter. asset XX-day greater and loan and LTV that recoveries loans income X.XX% period majority million and was Included another increased of deposit payments $XXX billion with had Loans estimates by COVID-XX of XX% have to X contractual by still income secured $XX.X with partially consists weighted resume pre-COVID from Loans $XX August by their excluding volatile restrictions in offset points values are LTV the with provision assets resulting of quarter losses total XX basis and bank and XX benefits to March expected point due of basis of PPP
the the and the related assets and executive This for expense the fees, salary recognized core quarter. attributable insurance million improvement quarter. taxes extend payroll increases of increased expenses The credit as remaining provisions severance and was $X.X the current core to quarter offset versus of These versus And million were average PPP to X.XX% trailing in small in the normal credit related an trailing quarter. deferral increased decrease $X losses expenses bank utilized first credit by acquisition-related annualized in to was expenses quarter. loan Excluding was noninterest COVID-related primarily commitments on decreased and costs quarter. $XXXXXX trailing in professional in compensation originations of assessment FDIC costs quarter partially the current for
XX.X% for trailing from effective XX% the rate Our quarter. decreased tax to
in the vesting reduced quarter an of discrete of stock item in income trailing compensation related forecast result quarter. the of a to adverse current the taxable As and
tax for We of XX% rate prepared approximately currently concludes That effective balance remarks. of We'd questions. XXXX. happy an our be to to projecting are the respond
