Thank you, Arnold.
settling that $X.X million. initiatives terminating charge able plan, the resulted pension quarter, a execute and our in which number During impact defined on to were of successfully value, positively shareholder benefit of one-time we a second including settlement
plan us which settlement, on or liability Following the benefit, our second defined of company save $X.X for the will expense $XXX,XXX during sold annually. sale further gain no the million. pension Class B pension quarter, all ongoing recognition, shares about we of has Also Visa a
count front, estate consolidated real total we branch smaller and branch locations, to the branches. nearby On XX of two of XX branches as June into bringing our our
is in third into Another scheduled nearby quarter. a to the branch be consolidated location
allow automation to driving and scale initiatives positive our business using leverage. We will other are us also that implementing operating efficiency technology workflow while
launch for Finally, our we in app strategy to FinTech We later are near Swell forward updates track look on well, providing progress this additional continues quarter. and the future. the Banking-as-a-Service public to
historically The to million was loan now quarter. prior impact yields. an assets interest Net $XX.X With the had rising the for and due ratio X.XX% or our results, income diluted in increased financial as equity the share. compared anticipate was X.XX% of beta balance XX.XX%. $X.XX million environment. the the interest sequential trend second on per loan quarter the manage income asset the repricing. our efficiency impact half in will of Turning income on rate by million, XX further and to was our margin rise, are the X.XX% net Normalizing primarily for quarter. return for The PPP both the net favorable starting interest Return which to up quarter margin deposit pricing, XX.X% interest sensitive and we in in see second has our quarter, and that sheet, average average by we points We was margin of basis to net to increased second million year quarters, this which in $X from increased yields increased quarter. increase balances low net second $XX was prior $X the
and Second one-time gain the quarter was operating Visa sale our of income other shares. Class million included $XX.X on B
volatility life quarter, the plans. second operating significant use insurance expenses. $XX.X there to insurance charge settlement one-time quarter bank deferred owned company in on for compensation defined of Therefore, pension offsetting included quarter, market other we also the was an expense had benefit hedge negative we a to during During life certain plan. compensation which expense our loss the due operating have deferred was owned also our million, policies the Other
being up seasonally operating Our first lines in after other expense back the slightly quarter. trended low
to other XX, that X.XX% loans. losses million, million total the growth, $XX.X quarter, tax quarter, expect we allowance operating million million to the was charge-offs. rate credit tax exempt income. for result range. a of forward, in in quarterly Going BOLI less provision to credit due as portfolio June loan losses At we The increased expense be net and outstanding $XX of recurring In $XX XX% or for will slightly $X our recorded effective a second the second
effective to the to XX% the expect range. be rate in tax XX% we forward, Going
repurchased remains an at position average cost a million per second capital $X.X or cost quarter, during $XX.XX. total the Our strong. we share shares, And of of XXX,XXX
September Additionally, shareholders per call record be payable on XXst. Directors a I cash the declared will $X.XX quarterly our of Paul. of Board XX to dividend which share, on to of And return August will
