Thanks, Garrett, Chief Financial welcome call. earnings I'm Harp first our XXXX to and joined Rana, by today our Officer. quarter,
our In momentum quarter, second record of the first last we forward XXXX. bottom diluted Following net into in of half XX.X year, we the the line income generated carried of performance strong EPS. and $X.XX million results of
typical are same Our we loans implemented quarter our first initiatives the perform first from quarter, that XXXX quarter, $XX and large in low our historically revenue million $XXX driven plus $XX maintained with over the period new day core to initiatives. X% quarter $XX strong retained stimulus profile delinquencies, XXXX, of up XX the growth effectively. which continuing in with over X% the to liquidation At strong and a funding of from in payments impact continued million which originated tight growth up of We our the tax initiatives loans year very year to that derived thanks new And portfolio in time, the we part originated result and was or or turn down grew on a This strong million growth quarter. year credit helped in grip seasonal markets. loan the quarter payments, X.X% new drove reduce million over only performance. securitization was and small two to prior execution Despite by pressure from by low strategies. the and and initiatives a expenses digital of combination while in costs stimulus superior refunds invest our experienced in growth X%
The spent second to round been of $XXX stimulus have appeared quickly. checks relatively
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June, the demand latter the saw and to up second expect However, continue in the May we enable pick to to we growth in in generate us quarter. of modest demand and April, start which part should rebound loan to
as of very We continued continue solid sheet more strong fully the robust. balance will and to remains the reopens. believe that be in Credit quarter the half in economy year second quality remain the loan demand our to
March the during from basis rate of rate loss a credit a end of net And points was the quarter XXX the of quarter XX X.X%, ended period. the points improvement with low we a prior from basis Our XXXX. X.X%, year plus delinquency record day XXX improvement
delinquency our contractual further X.X%. As day rate approximately XXth, April to plus of XX improved
expect occur XXXX delinquency losses throughout stimulus anticipate late that net that dissipate. federal rate begin the will at performance to to balance strong the as benefits of will in COVID credit credit earliest, year We the will continue related our of Any the our normalize be we throughout XXXX. though
seasonal reserves million first of of additional credit COVID-XX Given quarter $X.X reserves result in performance, portfolio. in the we a released and as superior the runoff $X.X the our million in continued
allowance compare plus Our to losses, day of to of XXst, for million. quite XX.X credit our continues XXX.X million XX favorably as delinquency contractual March
maintenance reserves allowance from XX.X yet pandemic. fully Our million not recovered overall in the COVID losses for has additional economy a the associated We COVID-XX. reserved includes as with our conservative credit remain of
strengthen our to capacity April, and facility warehouse In by warehouse by balance enhanced JPMorgan. our a on third continue Suisse facilities liquidity warehouse new further we lender, position. with sheet our Credit facility new also current overall Fargo and Wells We two lenders, closing adding a and with
types, and including multiple loans, loans, small While our fund checks, convenience collateral large prior originated loans, facility facilities the loans. only funded large new digitally
capacity another this return ambitious our increase yet of and our XX represents and program. funding that our our with happy to share. capital we are are step It pursue plans support announce cents We end, of evolution the to avenues in structure XX% in pleased growth additional per new capital we continue as diversification very to by quarterly an dividend to outcome. To
per program, we In weighted new May, of XXXX. a began commence plan stock total addition, our in we directors price XXX,XXX quarter $XX repurchased fourth later shares recently of to our repurchase that authorized of program in which $XX stock repurchase month. Board million completed the at in this million $XX.XX a share, average Having
over past attractive enabled have maintain to for the year return our program performance and an us expand outstanding results Our financial capital and shareholders.
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lead second expanding integrating see we roll digital of customers. and new success pleased omni-channel In and all investments by digital affiliates new functionality new to and the third to of generators. prequalification our very out expect our and with to the the are to model technological experience our our and We begin quarters, our States the and existing adoption the
an within addition, guaranteed ACH funding next which check is the In we loan new few begin will convenience bank testing months, to into customer's offers product fulfillment and alternative our our offer a online program, loan account. with
end-to-end origination improved mobile customers to later of expect rollout product for on testing year. begin customer online we remain and also this by app. existing new the portal digital to XXXX, an first our We track And a quarter and
As XXXX. we new products to in excited branches to our open of entered Illinois, communicated our begin to and plan the offering new State. valuable to XX state millions in mid consumers XXth loan in are XX we April, We previously,
to XX We also XXXX the enter additional of six four to to by two States months. and an States next the up expect additional end over
will our branches. fewer maintain a branches receivables geographic digital in to these reach, higher expansion need resulting our supported geographic States by wider average initiatives, for in Our the allowing growth and new per and be branch
out and product, investments geographic customers, our offer expansion the digital will we which our the end roll of third all by new first Our States secured in to products to we auto to quarter. also our expect testing new quarter and the began including
very about and franchise. We of the what year holds our this future excited rest are for the
capabilities. focus our our will additions quality to and optimizing throughout year maintaining continue overall We in our underwriting growth invest on credit the while
was the our that XXXX. of XX% vast since approximately pandemic. credit to subject The been standards enhanced the outset of of XXst, majority portfolio March of following deployed originated As which total April, had we
to Our is entire capabilities we prime to and credit our in to path testament our not and team. provide growth we line happier the the with be remain performance forward growth are operational confidence continue our and to and the customers be bottom first strength We regional for position and year. top generate a as our performance, underwriting success pursue strategies. our could with us and long-term quarter foundational which a dedication strong to of full We committed fully
we our also are ahead on XXXX year, As beyond. we execute looking priorities and this to
strategic key initiatives of development innovation, and of and geographic our on the channels. digital focused are new We expansion, products
long-term us and All market share to turn to shareholders. now color financials. sustainable will our Harp our over value to of on create I'll additional which gain the provide allow call for
