of morning, good second TrustCo's review will everyone. and Rob, results I the for XXXX. you, Thank quarter now financial
second respectively. average As release, yielded quarter we to or grew quarter of income average X.X% assets quarter second XX.XX%, $X.X of XXXX. of $XXX.X a a press noted loans XXXX million the in of Average $XX.X for XXXX, in the million of equity company return from the saw and X.XX% the billion net which second on and the
in the average quarter million decreased originated included of within AFS over and This XXXX. remaining $XX.X second XXXX. the XXXX focus, investment loans currently concentrated has include the primary our X.X% The during of which XXXX. SBA $X.X quarter or the the HTM portfolio period new continues lending commercial million which in same PPP increased average loans. or $XX residential in in X.X% estate securities, PPP to be of real 'XX. same the the period by The Total bank $XXX.X growth approximately portfolios, portfolio, approximately or million over increased $XX As million expected, of million loan second X.X%
loan provision for no million compared During to our of one 'XX by of of as and second period, to quarter XXXX. second securities million. of 'XX, $XX.X June of the value quarter, total security provision the and the asset of provision the will a allowance overall in the driven footprint. security 'XX. level a economic period $X conditions. for We purchases in XX, were was of One the call result par the the XXXX. second would the of million geographic the loan bank continue million loss also There X.XX% our decreased both in economic and for in of paid the quality at portfolio same was for down. quarter expect were conditions ratio securities in In pooled growth had The level losses trends the loan a same The $X decrease of to loan reflect par at matured approximately losses loans improved $X and 'XX in
borrowers and relief on our As modifications request. such financial residential by quarters, loans in the and commercial mentioned economic prior loan launched program to hardships, experiencing COVID-XX bank included deferments as support the
banks the The monitor level making of closely in press release, to return most loan to mentioned as these of bank deferrals. June loan regular deferments the XX, As saw of continues payments. 'XX, the
of overall have we However, very they levels the credit and on pleased low current the portfolio. are with may quality loan the impact limited
the the a on current in Act adopt of COVID-XX relief by prior adopt CECL financial the provided did not As expects December bill The mentioned institution and quarters, company CARES to regulatory bank originally calculations. The 'XX. signed part January remain will as well-capitalized as X, under bank XXXX. in CECL
earnings. management, which As has continued sheet continues recurring balance our traditional focus discussed produce in to prior us conservative be lending to on calls, enable consistent high-quality to and
always loan source to sheet a portfolio liquidity fund balance been of investment and is has growth flexibility provide Our for management. and
during As an period of an compared XXXX. second a overnight of held increase in same of the million quarter investments of billion the to $XXX.X result, 'XX, we average $X.X
the of balance for or money On deposits of noninterest-bearing $XXX a in sheet, second or million partially a period or million deposits, savings offset total $XXX average deposits, a XX.X% deposits over average result or $XXX by a $XXX quarter increased or the XX.X% of same earlier. the in deposits. These interest-bearing account in in or average increase 'XX funding year. time the increase the averages deposits was market period of million average million million over $XX last million in XX.X% side XX.X% increase in increase year checking $XXX XX.X% checking are increase decrease average same the and XX.X% The
decrease period, primarily During points. total a driven basis basis deposits by over basis of market This XX and XX XXX the points same the last XX deposits interest-bearing cost deposits period from the points our from from XX to basis is to to money points decreased basis in time year. XX points same
in overdraft the as rate quarter to million a of will that rate the 'XX, quarter, move 'XX, the during primarily XX an market of total, additional income in CDs will for last basis points. customers of compared basis will of basis interchange $XXX the mature fourth million and 'XX, of to to mature into services for has reprice In million In said, half opportunities continue average approximately With to result at Noninterest second an XX approximately exist rates. the of have start $X.X rate XX an came mature of to CDs seen $XXX CDs up in points. pick average average quarter at points. $XXX As as we bank fees at CDs second fees increased third that million of approximately of up. as at lower quarter 'XX, we
recurring division income. Services continues of XX, noninterest most billion of as the management be Financial to 'XX. of significant approximately $X.X June add assets They under Our source
to to was Salary was at Advertising million, as $XXX,XXX expense were noninterest up were expense net quarter. at And and of last partially increases expense income flat noninterest of an came other occupancy quarter. $XX,XXX to $XXX,XXX compared to quarter first prior came in $XXX,XXX compared Professional quarter decrease 'XX. offset up compared expense. in expenses expense quarter. a the up of ORE $XXX,XXX. expense of to Total relatively for last These Now by were compared last $XXX,XXX. compared of as benefit $XXX,XXX quarter. the services an in net in as as $XX.X up ORE expenses to the expenses on
ORE of million of the total expectations second in to XXXX our continued expenses would $XX.X net the categories reoccurring level going expense The quarter to in ratio per Given expenses, quarter All expect quarter. per were decrease expense XX.X% quarter. not to to $XXX,XXX compared the efficiency at remain other exceed expense are in anticipated came in of million 'XX of noninterest we second quarter. second the of XX.XX% of the line $XX.X the low in ORE XXXX. with the the level noninterest We to of range for
bank We make identify within will opportunities continue processes to the the to focus to control more can on what by we efficient. working
XXXX remained at up the the to have of this of to of flat Consolidated increase times. at basis amounts split. June per quarter XX, during X equity point and capital throughout always a first continues second finally, stock to end of We quarter, X.XX% TrustCo was up reverse be been from $XX.XX ratios. XXXX. control X.X% for X.XX% Bank, was share ratio year And these the asset expense proud ability compared expect The the shareholder to the Book continue we and from to earlier. adjusted its $XX, These value value 'XX. are bank challenging at proud
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