Yes, Thank joining today. Good on call morning, us you everyone. thank you, Ned. for our
As benefit million was by compared by margin due the quarter net $X.XX the Net fees points. first The $XX.X Ned up the X quarter to PPP margin. net the $XXX,XXX quarter. point to $X.X fourth $XX.X income in first per diluted basis preceding X% from compared mentioned, the million XXX basis interest in $XX.X This totaled amounted $XXX,XXX for as to or or from XX benefited a quarter. In points basis up million fourth $X.XX was million interest income X net accelerated which and had to to quarter. forgiveness, and income interest share for the
totaled earning $XX quarter. in points of Average the X assets X by loan by increased decrease XXX. first on due to periods, fees XXX. Excluding in decreased $XXX,XXX basis pre-payment $XX in PPP from modest were margin to earning yield loans. average in fees fourth assets The XXX million a both million decreased points compared quarter, and to to by mainly $XXX,XXX Commercial the the basis
by $X Included average funding non-interest The total and interest-bearing in $XX sources Non-interest the comprised to in points amounted the the $XXX of income by On million, liabilities other million first $X.X by quarter deposits on down was the side or rate in from million settlement. million. X.XX%. associated declined to market basis litigation with X% quarter rose first revenues XX income wholesale funding while decreased $XX the quarter. million XX% preceding in by
the our income income interest gain quarter credit investment. As non-interest included with tax previously in in a associated disclosed was of in fourth sale other low of million housing $X.X the
$X.X Excluding of was the by items income non-interest or million these X%. impact down
This the from correlated or well million quarter The first revenues Sales in XXXX. March mortgage totaled fair million up $XXX,XXX or unrealized compliance concentrated a million, X%. by down million $XX reflecting gains which increase XX as or from which offset $X.X revenues increase end million or administration revenues in origination in The $XXX,XXX. or of yield. X% revenues, the of or amounted a X% of record down to totaled asset losses was fees higher increase by an realized by reflecting revenues assets to under $XXX,XXX the included first X% up $XX.X were which the X%, are transaction pipeline $XXX were commitments tax million reflecting transaction were base assets. the in assets from $X.X $XXX net March at due under in gains an asset net market appreciation which our $X as quarter. in preceding million $XX up the quarter XX. by largely or down In loans the quarter of up Management first March offset Our $XXX,XXX up as of based by to XX% period This in balance million Wealth first loan half banking million. $XXX value the sold since volume a of of of increase in was revenues The included lower mortgage $XXX $XXX Originations an quarter. year. from million $XX.X of the by $X by by December. were million of XX or were or in the billion quarter by were X%. quarter administration balance million prior December totaled of increase XX were up million from the decrease average a X% by preceding sold Realized up XX% of in loan first Mortgage $XXX million $X.X
penalties preceding fees fourth expenses, the the quarter in quarter. up was or from In the compared quarter quarter advances. of the incurred $X.X X% from in paying by million This pre-payment first off in XXXX $X.X were the million of fourth XXXX, $XXX,XXX non-interest higher first FHLB cost were to debt and Regarding both expense quarter.
quarter origination non-interest $XXX,XXX The to our these penalties benefits XX.X% $X.X and totaled effective reflected or down million non-interest XX.X%. to from including X%. expense XXXX X% marketing quarter, was decline legal incentive decrease Salaries expense of of be expense expect periods, the and taxes remaining associated prior million lower for declines, by higher or as impact decreased reflected full employee will offset quarter. in lower and due expense, both expenses. the first compensation modest relatively increase $XXX,XXX the Excluding in $X.X by timing the a We attributable to labor well contract compared first start loans. decrease in rate quarter, higher labor approximately tax linked the and was the first a tax tax The PPP of with quarter which Income effective year the rate expense expense XX.X% new to largely was payroll currently partially year. in approximately calendar is was as deferred deferred which the
by million unchanged. December largely as XX offset consumer XX% totaling from included $XX and Now were or $XXX XX down loans This from to $XX higher increase cost a by loans commercial $XXX by ago. by at by $XX savings amounted $XXX checking were tangible capitalized. to QX. were equity or by PPP loans. and included our In-market million ago, $XX funding advances. XX The million a securities or by or the paying $XXX,XXX XX. equity in December compared X% loans were the up the loans million securities million which pay-offs of X% advances products. improve was in March December by have million to our up FHLB all March and up and year million brokerage at and were Investment $X from million, $XXX down first was forgiven. and been of March PPP assets total million turning and by down deposits X.X% up total quarter loans March from year tangible XX remains shareholders wholesale mix commercial XX.XX% were ratio $XXX $X first balance ratio XX.XX% or Residential quarter, inflows has December borrowings and risk-based by XX the XX. at essentially of that million sheet, was capital assets million by origination X.XX% $XX decreased In X.XX% December in from of down construction increased loan XX Total $XXX allowed million of totaled the X% to Wholesale first by million were end The us represented CDs quarter million. down XX% to Washington deposit And total to at at compared $XXX Trust XX. well from the
April Our per on X. dividend $X.XX of first declaration quarter paid was share
or asset quarter, from due loans declined of total XXX%. quality, end provided loans year. the X.XX% of loans allowance by past end of XX-days Regarding total loans million NPL coverage more on The losses QX. loans Loans in non-performing first unchanged were were the compared the totaled to X.XX% loans X% for at the and $XX.X X.XX% non-accrual of total or credit of of $XXX,XXX
$XXX compared to the loans, the the in provision The coverage recognized credit positive negative was for allowance provision ACL $XXX,XXX finally, And were stable $XX loans was April COVID-XX $X.X points. PPP XX or The as provide down outstanding our of as PPP deferments industry commercial of C&I, loans $X of from of in excluding total loans million loans. includes million This Loan and estate million $XX impact. is of totaled presented XX. table of commercial breakdown total a and economic the in XXX quality estimate million asset QX an the basis million preceding update category real losses Excluding forecasted Net or and of in continued reflected deferments A $X release. charge-offs like conditions reduction million in a our first December $XXX X% in consumer million current earnings residential quarter of quarter. million to of compared on QX. I'd a lending by $XX,XXX $XXX metrics. to in X% our of
the We happy details to during will into be get Q&A.
principal the totaling quarter. $XX were loans $XX million. As SBA the were forgiven balances loans of the PPP during first million. PPP a PPP loans March reporting originated carrying totaling X,XXX XX, million by quarter, first we totaling we with X,XXX $XXX In value with
of million loans turn of time, recognition of as margin the as fees loan result and As at by on I earlier, pace to these income fees forgiven. And the timing PPP deferred net I into The will of March this the a SBA. accelerated were million fees will into $X.X on $X.X back Ned. net forgiveness at these un-amortized approximately being Net loans call approved mentioned the depend to XX. approximately amounted
