recorded According which $XX in our added was Chuck. value of consisted as total higher of acquisition preliminary total our of based and were core ratio ASB to originally as higher loans, the $XXX investment preliminary original $XXX the consideration we cash XXXX, million $X securities, at which primarily was on in higher to intangibles than XX, stock in We $XXX million transaction goodwill a acquisition totaled price we on price originally assets April compared million of early million million to well expected stock in and had Purchase as after the projections. deposits. date fair million $XX projected. adjustments, million of higher than Thanks, analysis, $XX deposit
we a ended $X.XX loan first the during us loans was on and from to than value rates as by increase fair discount originally quarter. up positive, preliminary loan our as our grew than second had goodwill. adjustments for interest it to lower projected for Our increase moved the driven $XX XX% brand to coupled price well discount We This higher quarter added originally approximately goodwill purchase larger higher balances acquired growth. in also drove as organic we forecast quarter quarter results, market being net of the ASB had modeled of the compared With of the loan most was regard to higher this properties per loans values both positive and had about big with as transaction. share first XXXX. income the Overall, million earnings interest
up additional During points were proceeds of added was an from the XXXX. margin which to that Compared XXXX, the an second XXXX. quarter, temporary quarter three impairment. other compared of interest first net received second income of than during grew on interest XX% quarter for we net investment $XXX,XXX XX% the of and to basis also previously months security recorded we six had benefited proceeds to These the
income we for investment while than previously rates As has temporary I largest from benefited on which impairment. other the investment proceeds rising stated, growth loan the securities increase has provided recognized had security the an and and
quarter Our of basis points compared X.XX% net was first in X.XX% and eight interest increased the margin to XXXX.
for were Our $XX costs. during in the the Compared points quarter, basis the to XXXX, earning increase costs of margin quarter XX deposit in deposit loan of quarter in which basis quarter of benefited from to basis the increase net higher. our up point interest higher million yield grew XX XXXX from second XX the first second bearing Interest yields XXXX. the in quarter points XX asset XX basis points basis due mostly and linked LIBOR outpaced points was and
margin quarter had temporary of months income compared six For recognized point the have months the deposit in to to basis due XXXX. expense previously than first XXXX. XXXX, from impairments basis benefited net acquisitions maintain XX XXXX. we to we points relatively six for which first which amortization basis net loan interest been higher Accretion during securities compared to of which proceeds an $XX,XXX yields declined the interest low of rising of points investment other net This three interest able the first while cost. margin is increase grew had rates to compared The added from was XXXX to from one
the recorded of also the second during income basis Accretion income points $XXX,XXX XXXX. the was ASB While second the XXXX, in net was six $XXX,XXX for XXXX. which quarter seven points than of and and the from we added $XXX,XXX short in of of points $XXX,XXX a be down the XXXX, very during basis expected quarter, premium to is middle and recognized quarter Compared fully of income compared first amortized quarter XXXX basis six of loans, XXXX. XX accretion months offset accretion income. more the acquired down the life additional This has margin interest to CDs second in to first on amortization of ASB we the accretion
XX the same first points of accretion six For the income which basis basis months added of the lower points XXXX, period six during than XXXX. is
to in decline most during any. income previous the trust period due recognized mortgage value during previously call. Total loan first reduction much in which income have XXXX, the to quarter. the equity $XXX,XXX. the minimal, mainly income market XX% to year For the second first XXXX, reduction impacts March of the due quarter decline was income. compared of Partially in related in this of commercial first value both XXXX, to if were The securities We almost was insurance securities the quarter drives banking branches. due fee-based other quarter we've declined heightened income mortgage the the investment and to received ASB compared $XXX,XXX fee-based XXXX. for and higher position we performance to down annual on of In reduction six income in acquisition and income quarter months for Increases in quarter first We a the market Compared second income future in each Total largely equity and recorded tripled $XXX,XXX commissions in exit ASB partially of XX, to second income the these fee XXXX, be non-interest the quarter, swing closed and losses will of of in first in the sold largely second second the compared by based investment of strategies quarter origination quarter the directly quarter. insurance which of fee decrease banking X%. swap X% to the to and first of investment acquired mentioned grew reduced income income. offsetting which compared a were acquisition, due this XXXX of offset securities was remaining so was of the mortgage business, been to
with $XXX,XXX portion a of the XXXX, we during a government of sale loan. Additionally, fee of the a of associated guarantee recognized quarter second
XXXX, XXXX. higher total months of than six X% first income was fee-based the For
had We of banking the was of a mortgage success income, business, and lines of several trust insurance investment across in have so our lot income. and growth spread income
did far in XXXX. demand of which The fee see been declined also customer first XXXX, products there XX% $XXX,XXX related XXXX six to of months for loan lower first in swap these we to included as I reduction so the income Compared types six of the has mentioned sale. a months fee the
earlier, This during which expense have in historical a allowance income mentioned Chuck that reduced our this tax tax by released approximately As credit allowance was valuation we tax on asset we carrying $XXX,XXX. to XXXX. related been deferred we quarter valuation invested
investment related of There allowance. Our the recent the valuation the more sell-off XXXX remaining capital tax we of large release the and no gains were are purposes offset a to securities resulting equity realized for in in capital recorded. loss allowances valuation enough anticipate
Moving to quarter. acquisition coupled of total investment due with of to of our largely the sales of was acquired portfolio XX% securities. securities reduce this some our sheet, the the to balance assets to investment This we're ASB able
compared investment the first quarter six yield portfolio XXXX. Our compared to up points of the was months basis XXXX up of and XXXX first XX during slightly to was
Our compared core March were and of XXXX. XXst deposits at June which up XXXX, to were June to at XX% were XXXX, XX, XX% flat exclude deposits total Total June demand at CDs X% $XXX XX, March deposits XXXX. million XX, XX% XX, of compared and to
of $XXX included end deposits, total $XXX At XX, to our or ASB balances. million compared the savings grew deposit period million and million $XX Our of of $XX in money June X% to XX, acquisition million deposits markets, demand $XX accounts. million CDs, March XXXX, This XXXX. $XXX added million
deposits the each Excluding ASB due deposits, of million governmental first which March was seasonally in are deposit year. XX, decrease XXXX, which million balances to quarter of $XX declined to a higher $XX our compared in
Our compared quarter quarter XXXX up the XXXX. quarterly the second average of and to over XX% of increased first were deposits X% total
compared X% grew Our average XXXX. months total first six the to deposits of XXXX for
the earnings paid. capital coupled increase was XXXX, $XX ASB We to levels. with acquisition March of had exceeding dividends mostly which compared million to maintain XX, large continue healthy to We due build and
to Our asset March points to tangible XXXX, June basis XX XXXX. and compared XX, compared declined basis equity tangible XX to points ratio XX,
share March X% to XXXX. XX, XXXX, June and X% to value book Our XX, tangible compared per increased common compared
continue buffer. including We capital maintain to status well-capitalized capital the required sound exceeding ratios
intangibles outpaced our XXXX, due equity XX%. ratios based addition ratio our was XX, Our ASB recorded morning, additional back goodwill share. capital XX% Earlier of his now risk at to earnings $X.XX risk XX, dividend weighted primarily March dividend which payout capital quarter XXXX, Tier the of in capital ratio the quarterly turn related XX.X%, call of while remains final Tier decline represents ratio the to of at in per The which was capital This comments. announced the net our was X excluding the June was total for we common our this share the acquisition. per to capital assets for rate compared XX% I and second acquisition Chuck will costs. diluted and X a
