Jim, loss income, to The million prior was good in $X.X was and for during release loss compared net and quarter. expansion noninterest a for losses. $X.X credit income quarter morning, driven and Thank a million of This of you, the net an the increase by net interest the provision everyone. in improvement second
the current Our asset environment. in quality remains strong
our economic release driven provision During to used the model categories. of A held-to-maturity and quarter, release loans, occurred all losses in drivers had credit we credit for improvements forecasted of sheet a securities. losses. to $XXX,XXX by commitments off-balance X
forecast. our our and majority is As adverse a on allowance derived allowance the the weighting baseline reminder, from credit and methodology of losses quantitative greater places for measures
of by loans to assets to declined This $X.X improvement Nonperforming nonperforming basis in X a ] assets reduction nonperforming gap total a this in resulted only million nonaccrual loans. real [ point total and our X estate-owned property point due to and reduction $XXX,XXX loans. basis assets to in a
allowance decreased loans basis to total the losses points to credit Our X loans. due decrease allowance in for the on
increased by the loans. allowance Net impact for in basis a $XXX,XXX, our the in income X from as $XXX,XXX, net the while point only to nonaccrual prior the allowance to XXX% Interest loans quarter expanded nonaccrual $XXX,XXX. expense losses on However, from expansion credit leading XXX% loans interest margin. in to outlead improvement in interest increased interest income reduction increased the
margin interest around net these our remainder the for current expect to stabilize levels of year. We the
assets growth, yields ability increased given rate on macroeconomic increased interest to basis and by X.XX%. interest to basis to asset could by direction However, either in activity XX loans points generate XX earning environment. moderately X.XX% they our move current on the points depending and on Yields all
Cost X.XX%. due each were the of of balances decreased points minor short-term wholesale borrowing prior interest-bearing cost prior borrowings increased deposits of payoff XX points substantially quarter. costs X.XX%. during XX to to increased quarter variances the cost, basis average only X.XX% flat with funds Conversely, declined as higher X to basis The basis category. to points to Expenses in
We continue to the range. the expenses and expense to quarter discipline, million operating to promote we XXXX $XX third mid- in for high expect be
balance Moving $X.X loans Gross during the sheet. the on by to million declined quarter.
yielding our quarters. funding, loan future and yields new outpaced benefit payoffs and are will that X.X% new amortization from While fundings loan
New increased As a in space reminder, loan million. and securities York approximately only X% none Available-for-sale office of $XX.X portfolio is in City. is our
we a with During of purchased yield average securities the quarter, weighted $XX X.X%. million of
the This frontline during and the cash quarter. deposit time security lending Borrowings $X.X million. was grow a or flow resulting partially in in core increase deposits deposits securities million to in million Our growth staff offset of with we flat net X.X% and as funded portfolios. by were outflow the an from purchases $XX.X $XX quarter by our during deposits, able remained
Jim And and questions. take happy to with that, I your are
