call much, Thank our in and welcome joined and you Ray, this Iowa Chief Ian City everyone who's by the Chief Officer. Chief and to Gary Cantrell, morning. and Jim you Sims, Financial Officer; our Barry I'm for very Officer thank Investment our Treasurer on joining us Credit
response begin We're team. other long we I for would acknowledging tweaked ever And significant into MidWestOne, I'm and wondering would I put what at I add plans, with from and and would with pleased we've times. hard The with and that success. had practice. be at developed recovery sure MidWestOne all at we live various and the entire unprecedented years by if they And team institutions do in disaster worked we've our very has little complaints know
I other around at we've done, to customers constituencies. our during time, all have help our this many three many they've and primary planning banks things constituencies as and done our We've forefront the country done our of had these the communities, employees, know
order there been our and through throughout So and low lobbies our we've employees, to taking our very traffic footprint. has appointment lobbies only briefly, in limited these in going
open have and ups drive remained Our busy.
since transactions total pandemic are Our the started. down about XX%
our workforce third working now be distancing we from observed. to have Right continues home. of one Social
increased throughout We our more footprint. that with conditions. services to placed pandemic pay to travel made cleaning for travel. adhered accommodations And Business up circumstances XX% We've rigorously basically COVID-XX. remotely. dire in been capable those of CDC to We've our those special pre-existing guidelines. and of no benefits means have are we've We've affected workforce had working directly the by restrictions
higher closed April For our that in to I'm opening our numbers XX% And although up digital in banking Online up even time. account are promoted capabilities. don't sessions we that banking report have this I customers, our we've was online than about XX% happy final lobbies. it's March, since at
deck our quarter's We a government few that, Our but EIP I payments with a call send increased due wait of payments centre times. and was you minimal just refer earnings the We staffed would things. calls volume did both from and release PPP customers to had up. and report responded we've this can to out to
lot a estate We deferrals one-to-four portfolio. been XX.X% have represents that, a loans payment customers, March loans for XX $XXX roughly fair loans. far family do in been real representing or on outstanding so questions XXX month there's of forgiveness, which million of get amount $XXX,XXX. Six Payment XXX of approved the not
deferrals a relatively our we've and representing reporting number. of XX were loans low house date, had all As recent requesting million. most in $X.X Those
loans loans early – with representing in to very $XXX,XXX we and we our they delivered seen applications roughly Most for approved have few you million with serve As completed and communities, per and come XX on associates have our other for getting we And country, customers the $XXX totals XX PPP company's program, this our the days Recent banks that have to hour an we average And had around the as and now completed we up our as caught success, I working loans or XX would we're us. many say of funded. outstanding, we've have customers. working loans alone. delays were right to very – pleased in X,XXX
also In to our left want media talk local and giving still coming throughout And We by the about day. giving leaders recognition throughout would each unbudgeted in purchasing we've small large in our we communities organizations real, We've pain supported to shop encouraged footprint, our the to $XXX,XXX our local in decisions communities, restaurants communities. outreach additional our specific for the who up our to work footprint. were make an did and throughout of footprint markets. is also are and lunches employees pledge local
as forward let's of this quarter's that, income the we we quarter ahead the for was dominant that the million our we do loan after as approach and with credit what right company. expense believe frankly, move the us. to well thing of much in an And we believe is loss at very took line unclear this move on our We discussion, provision $XX.X time. lies to so to item, loss line as an thought item was autopsy we or did future aggressive opted The And to statement. this
X.XX%. loan a to At reserve loss end, total of quarter we showed loans
that in discounts up you we're and we to it add our in us that the to the If discount, loss plus purchase to X% that of we goes portfolio you doesn't that and course, X.XX%, content hope number so wrong allowance have, a believe provide purchase allows that. when the come we add in
Net at acceptable. efforts, virtually noted in basis as but X/XX progress points, make unchanged asset progress. court was of that back very recess, year-end $XX.X quality assets would the the as my our XX opinion as release, it's I our characterize been has Looking is did modest considered, of X/XX, collection progress as things we all in stalled now And showing in non-performing system the our of total million. charge offs were from
quarter? borrower the deck vulnerable of think we in related industry included when of just said We identified listing where and in as the about industries happened environment, really a could any of now is we'll current what's portfolio So to talk industries the concoct vulnerable vulnerable. six also the since we any of that end the XX% – about vulnerable scenario that deck, our comprise With COVID-XX, a vulnerable. one
will continue we'll and is customers. work do to ask we customers months continue stress, our We months our our consistent customers because we borrowers which weeks very we are reach out and during to and talk will a in it many important be this important continue to with affected customers the that this time. ahead time know It undue communication very but and to before be to during that few showing know most and so
the done the what's we've ag I do found we renew happened or give the want And with crop not Through ag a customers to plant past about did update elsewhere X/XX years. chose of think operating afterwards. couple and up quarterly to to financing happened we should renewal this I then either as for what some These talk season, lines. year.
the our As ag represented million. loan or portfolio $XXX.X total X/XX, of X.X% of portfolio
year-end. that substandard of X/XX, portfolio is ag slightly rated substandard, – was as the down from X.X% In
the portfolio. Our slightly also X% we're declined credits year-end watch of from
and forward. XX.X% it we XXXX. portfolio watch portfolio was but if was ago either Two add in ag have that's watch perspective XX.X% So as think have you of do substandard. of and XXXX to years XXXX, watch this. it's substandard. some our now I or step and this being X/XX, rated Progress substandard, the made Again number of XX.X% year-end was wise on rated the X/XX, XX.X% or back look at at is portfolio, ag to
And in prices roughly soybeans, pork since prices have The modest but down a we've was corn their we got MidWestOne and the dairy, prices most huge XX% the the to highs all of poor XXXX lesser were XX%. In – gotten are degree, prices. of are but six X%, reading fall – last what already have in land to we seen worse. we erosion in erosion got down four not follow prices months that so prices. in these for the what of continued a of footprint, instances, Land about pandemic, cliff, recent land off certainly on most from thought
if our portfolio it increasing confident in as continue don't. items do Sims portfolio management, Q&A. the X/XX. our be to headwinds available to answer and composition monitoring more they quality, but face very because will and Gary stabilized credit summary asset has borrowers will questions on We're in So prices other on of think in specific we portfolio, our need ag to improve
at late lasted March a or all And bodes very that income days only securities Turning some fixed for which good in that. advantage was as that well highlight we a balance liquidity We that widespread. to make what the of use had four were we going purchases, to to good of grade the excellent able this we I for period sheet, the already our there thought were think three forward. said, quarter in investment margin to we growth, the deposit illiquidity take day market company. Also, adds was period and and few very
a reduction saw our roughly loan portfolio. also in $XX We million
it, offs. $XX ag secondary for C&I a much in lines to million, and were up a million, due million multifamily at to construction planning decline that CRE, market. billion you look one-to-four in activity operating as had up pay loans utilized loans and go of under in up more family and is during the say was season. $XX We that's primarily accounted entirely the could XX which slightly reduction development will continue you refinancing of If was than reduction $XX the CMD, are
credit XX% also usage MidWestOne little about March XX/XX, life and continue at credit that. give At did of headlines that was on on color XX. read about a our to We to you usage, not nationally. trend We XX% has XXXX, to declined bit line that see line many usage
did national trend there. So follow we not the
opinion interest comments core margin margin, several the quite point ability in I core liability to XXX for was to in too quarter one decline in for it was the up margin, XXX. March fast highlight. our management rates. good past on April. our will re-price, our the should which our our reasons, I in of company. to margin that think margin on short-term the personal catch declined my Turning has basis in The which That somewhat that XXX My don't will from pretty focus is been net good rates
an also mix We had change. unfavorable
to And saw we modestly the a decline from what million reminiscent April. XXXX in notice noted, continues was non-maturity liability helpful the the early combined of XXXX increase nice margin as deposits deposit. $XXX help we also previously This well. That slight CDs back occur that shift margin. the we to roughly lower And should in to liabilities is somewhat As in period. not we believe to that re-priced in with have on the more specifically loans side,
expect do we two there quarter around So also the margin comes the margin, be program improvement core but in as and goes. PPP much would the noise will acknowledge
Non-interest the up X% this good unit to Trust in was progress, does also investment a almost I and a services. face behind But in services every investment income was market quarter. April, in say generally only our company. due budget. good progress and quarter Excellent conditions. trust good would Nevertheless, had segment. from fourth They slightly headwinds
best at non-interest good of quarter by history MSR The mortgage of course loan of amount income. in the of in adjustment other headwind the in as XXXX the quarter activity, million. activity the $XXX,XXX. swap reflected same XXXX the fourth that's far Commercial had our of loans company's We roughly was closed number first $X.XXX
And those income non-interest our all from roughly was so overall fourth the you and XX% up quarter. add up
drop important in pleased forward. interest be Very held at will despite margin, ratio the going in the to report expense XX.X%. our Non-interest net efficiency that
will contributions we in as expense, an generously our on plans eye continue XX to future. which for Notably in have charitable technology communities, do We need. we've to last to very continue on XX we that's focused any to not think on And give been to the reduce this our months. this our keep are because spending will non-interest we
include did position. position. a we strong Turning on liquidity We the to liquidity have a capital slide we liquidity, and believe
up, in liquidity significant to have those portfolio. pretty of our many come We've if dollars liquidity you add in the quickly. We deck. billion sources the investment listed a But of you all
think view, we of are a liquidity ample. resources So point our from
target. to tangible capital, we've X% many the of capital, terms common a for as In at that's talked years that within about equity X.XX%, being X% range overall
say the included minimums. and quarter, estimate also well We at we of I'd capital our ratios regulatory this above above all regulatory at quarter X.XX%, Tier end leverage regulatory Tier and at X X X.XX%, minimums, XX.XX% CETX
repurchase share continue in we this will monitor. plan future. to our mid did near We reopen We discontinue in temporarily to March. do But not the
from prior our maintain quarter. which We dividend expect to the was current unchanged
it So primary focus to months will in our where ahead, should looking know several take exactly be.
continue our as to encouragement resources now, will and portfolio loan to For increase and customers provide to employees, we our well monitoring support as and continue communities.
And happy to to with back turn and have. entertain you might any will you questions will it Ian I that, be we
