relatively for were Thanks David. challenges the performance the the created happy we by continued with Despite pandemic, the quarter.
inflows, some rest during are fund David remain with deferral. our about metrics which $XXX our on loan used mentioned, strong to were position. pleased the to the while loans liquidity particularly due already asset the As our The increased added million and deposit trends quality growth, positive strong quarter continued balance sheet respect we to to of by strong
quarter, loans commercial due as or by industrial of of first Slide finance the at down loans. on as an X% due or term at primarily outstanding and off million Consumer loan million increased X, lines loan billion, loans $XX.X borrowers to paid $XX to paid the end PPP or higher the totaled construction primarily million lower credit as first X.X% balances well Commercial was $XX.X to balances quarter quarter decreased offset portfolio. loan did the not growth pandemic. second $XX.X increased any resulting balances. less prepayment market quarter first partially from or increase million the residential Looking quarter. from in compared and X.X% mortgage of loans conditions sell the with We to $X the originations, during the loans optimal than public activity the second portfolio of due compared This
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continued basis beginning declining money basis The Deposits higher deposits $XXX rest up $XXX Like all market by were CDs $X.X on was pricing the to XX quarter, from first clients million of we to broker deposits basis face so At our points or XX and XX industry, the in business. increased deposits products million market XX% cost on conserve At XX quarter lowered cost The quarter below X.X% with another and money looked of increase one shift ago. money of rates our at XX% basis small up Slide XX% Moving second as totaled market have commercial all CDs first in on decreased to throughout to end safety market points small the total million businesses an deposits market points. from on also Money decreased was by X%, the maturing of of the immune X.X%. basis July. our and as deposit well deposit deposits XX environment. market in new in the $X.X quarter. in interest-bearing broker favorably was to partially growth billion, costs. The from quarter, of market on funds cash on money impacted declines small reduce commercial consumers, the deposits consumer far to accounts of points X. uncertain money the we business rates or deposit of from on the quarter. of the second an continue the money and the offset Furthermore, flight $XXX and the to paid the CDs. Compared money not rate by as of the CD we cost quarter million to deposit of and CD rates market balances. related a from strong was money market The remained end by year $XXX products, cost increase mix in rate production our contribution product deposits, the billion now make the other points all included the the
X.XX%, points. originated average weighted of basis a at off in During cost weighted end two cost the the of deposit were brokered X.XX%, CDs whereas X.XX% Included the second rolled at a deposits second quarter, of very balances off quarter. XXX at were deposits positive rolled million having new a $XXX.X and broker higher spread maturing average maturing the and cost deposits which of totaling
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low During in the a quarter, May. monthly net hit interest margin
substantially June's However, to was May's results. compared up margin
we So to move are the beginning in direction. right
linked loans of $X.X Non-interest due million the on banking primarily The was in by during mortgage driven Slide decrease non-interest a on not $XXX,XXX to declined gain any quarter. loan million in gain second activities. from as sale the for million quarter. Turning portfolio sales the decrease the to in revenue revenue primarily during and The decline decrease by to quarter compared on $X income sales quarter conducting income $X was X. to a
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strong to mortgage activity. of demand, mortgage by terms mortgage our In consumer is decline fueled in experiencing banking, and the direct business rates refinance
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were up PPP to points, X% allowance to XX resulting growth losses points basis Now in in was is loss basis let's $XX.X in Of for to in our quarter. balances first XX X basis balances increased resulting loan turn recognized business unique a PPP an excluding to a to loans. million, compared Slide status uncertainty first increase loan $XXX,XXX quarter. during loan our Nonperforming some specific quarter for that net healthcare to allowance points had the that $XXX,XXX on or basis $XXX,XXX one to XX. them. of which The associated to loans primarily experienced asset have total CRE continued average XX charge-offs quality to linked was loans owner-occupied on due excluding the charge-offs modest quarter with factors the and resulting quarter reserves that in loans reflect the for the to placed increase COVID-XX ever note, circumstances The the taken quarter quarter. were net second million, finance the there on $XXX,XXX portfolio, economic charge-off additional qualitative Net line to that in model the in the non-accrual included pandemic. new of of loan by during $X.X charge-offs no increased allowance on adjustments due from primarily individual during The we points the
loans total the with assets assets nonperforming prior relatively quarter. the and total remained ratios However, loans consistent to non-performing of to
healthy of loans in to COVID-XX much that credit the know comfort While on overall and to on our capital. real XX, low to over reflected have loans as estate With secured quarters approach as to metrics about on remains to liquidity levels and continue to LTVs remain our charge-offs. the of shown and respect actions borrowers, term in several low preserve and last we part manage and we we in there is balance capital, don't the overall our taken still longer sheet the capital date, strong implications net Slide nonperforming due conservative both underwriting, our our levels our on and economy take
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points cash PPP XX been ratio in would growth have the common balances, basis tangible Excluding and equity higher.
sheet access value the at of more impact economic to capital our liquidity manage Additionally, bank the sources share regulatory current remains to supplemented increased we book sufficient by COVID-XX ratios per and crisis. and have $XX.XX. strong funding the company on-balance holding Overall, the tangible to additional than
balance of but forward, intent is terms of In capital cash sheet second of to and overall the balance going the deposit growth lower, sheet prudent, level still of repricing through a and the balances. our reduce XXXX over continued size half
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are with Looking prospects of quality the of the we our second XXXX trends excited ahead, moving the about date we respect experienced extremely our loan to We the XXXX. on speak deferrals loans have into to to believe half and portfolio.
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