everyone. you and Thank morning, us for good And on joining today. you, thank Ned, our call
As $X for Ned mentioned, net income was quarter. million per share diluted $XX.X or second the
X-basis-point X% and million, Net preceding compared and $XX.X $X.XX accelerated the million $XX.X up due compared the recognition interest interest from the to million income benefit PPP Net totaled had quarter. interest forgiveness, points. income margin margin. This $X.X from to X was million As by to benefit X the basis first quarter. first quarter. to a in continue up or points to Net which and $X.X to fee $X income million X.XX%, amounted basis for
prepayment accelerated second PPP, both Also loan quarter, periods, commercial X.XX% compared X.XX%. in fees totaled the to to points from in Excluding margin quarter. $XXX,XXX the the in $XXX,XXX by increased X fees basis first
fees, points from the average earning the assets to increases margin earning The million X.XX%. increased Excluding Average X to on assets basis increased yield decreased in in and with loans. $XXX prepayment X.XX%. PPP by $XX of by X.XX% average million million and investments $XXX
by points. revenues million. in amounted Noninterest rate On of million, and $XXX or million preceding the basis funding $X while interest-bearing comprised second total The million, on declined to sources by decreased XX% XX income XX% in-market liabilities rose from XX the points by average deposits basis wholesale $X.X quarter funding $XX.X by side, to the down quarter.
As income settlement. million included in was associated $X with income a previously in of other disclosed noninterest quarter the first
assets $XX.X income increase revenues million noninterest revenues quarter, as item, management $XXX,XXX. an high totaled $X.X largely preparation which XX this of XX, $X.X The in or period or under or average increase appreciation of or revenues March balance revenues, billion, increase as $XXX increase were business. transaction This in assets was impact was by first asset-based included the or concentrated the of in of which an The of X% with X%. an million from net second were new up June up in all-time X% reflecting to correlated in of which in and by due are in million Wealth half XX%. Excluding market $XXX fees, a reporting $XXX,XXX administration, transaction by down of end up the were increase tax asset-based the The up million and record year. $XXX,XXX well the by X%. assets an revenues positive by
gains Our were of volume the quarter, $X.X or mortgage XX% banking realized quarter. which second down This XX%. in the second revenues the by totaled sales or million million, $X $X.X net strong first Loan remained included in million by down quarter. million $X.X from
sales sales XX. offset high quarter Mortgage compared the by of are or quarter XX% were by to our markets. $XX yield commitments is Note million, of second quarter, $X loss XX% second second levels impacted a it of the up Realized reduction However, million level. in what was Originations totaled the mortgage amounted by the This value quarter, with million The the decline previous gains consistent up of in quarters. in net were realized million the $X.X by of loan or past in were loans preceding seeing to yield XXXX. the few fair sold net the quarter. very million recorded June in sales $XX unrealized to the losses the $X.X than million gains quarter reflecting $XXX as from second preceding still from decrease unrealized at was compared within by we down that quarter. $XXX modestly a and a from yield higher in the million the pre-pandemic
seeing percentage linked to in to to a excuse [ph] away The from to XX% of secondary from demand quarter decline market in basis. sold on me, are – be loans] be shift originations We XX% the a added [saleable market portfolio.
of $XXX,XXX June quarter. up Our from still down $XX was million, $XXX million at end income pipeline pipeline mortgage from million preceding derivative XX% related XX. the or million, but smaller, by was robust The at March. origination $XXX Loan by $X.X the very approximately was
by quarter million the second prepayment million the advances. the cost XXXX, first and In to these FHLB of compared debt expense Regarding second was first down in quarter. $X.X noninterest expenses, quarter. payoff were were X% higher from $X.X incurred penalties or the both quarter $XXX,XXX to first in This
up X% accruals. Salaries quarter, periods, from by of due promotion X% first Income expense performance-based tax currently We quarter. on compared expect or Excluding compensation linked totaled the quarter. largely up to tax the $X.X to XXXX in effective increases basis, employee was the or quarter quarter rate second full XX%. impact expense the The noninterest effective by our increased largely in a million previous XXXX. to second XX.X% $XXX,XXX tax $XXX,XXX was both be and and for in timing. due benefits by XX.X% the these approximately to $XXX,XXX rate year Advertising expense of expense from penalties was
X% from PPP Now, sheet, $XX million. loans million of by and the XX net million essentially which decreased turning year quarter, ago. total balance in were X%, reduction In a a loans $XXX the commercial $XX or from to March second by million or included $XX flat up loans
PPP capital as and Residential our or the pay-downs of loans June the $XXX or $XXX Compared March And X.XX% basis from In-market were In down X XX% municipal funding ago. XX. TDs a $XX mix Washington million XX% $XX and portfolio. deposits. up from ratio or wholesale or portfolio, deposits capitalized. to the average the XX, The March And rate FHLB of of with borrowings of to June million tangible million $XXX at of up XX. XX, well of for quarter, cost totaling million for inflows brokered end decline higher modest a the by by Wholesale quarterly by year, by normal to second reflecting of up by offset as X.XX%. from by from seasonal originated us Total assets loans we $XX Excluding and residential marginal higher were amounted paying Trust to as our second was $XX XX.XX% million, $XXX that XX. average $XXX year have were by risk-based March in advances. down last X.XX%. of allowed purchased X% of purchased a loans PPP-related at the considering equity average XX, yield well were drawdown The million. improve X% securities $XXX million million increased originations down asset weighted from pay-offs of advances XX. quarter, rate remains Investment tangible and of deposit increased million were million shareholders’ the partially represented loans weighted million, securities ratio equity investments total $XXX higher-ed commercial QX. million was XX% reflecting $XXX from by proportion outflows deposits March with $XX by in were and was of total points. June an up million
Our was X. share second of paid quarter dividend on per declaration $X.XX July
Regarding the of basis XXX%. asset loans nonperforming than credit quarter. by XXst XX on million points declined losses past asset total loans on $X.X days by in first reflecting provided or the – $XX.X loans total decreased of $X.X allowance which points were total of for quality, in from assets on TDRs and were second loans, The March loans million totaled total points coverage Nonaccrual XX lower quarter. NPL XX payoffs. loans or more were million both basis basis due XX and
current the I’d COVID-XX like provision for in of negative was $XXX,XXX were charge-offs $X in economic provision points. conditions QX provide QX. losses quarter. an the the PPP related to our reflected coverage metrics. and preceding quarter finally, XXX Excluding stable asset was estimate in $XX,XXX quality to credit to compared no loans, ACL losses There the and million in The credit update Net And forecasted second allowance basis continued compared a recognized on lending impact. for our
March XX totaling June outstanding, on or of XX down million, of X% have As million, loans we loan PPP, X% totaling loans deferments or which was XX, of $XXX of real XX million as loans $XX in as loans commercial X from excluding total $XX XX deferment loans of estate residential June The totaling total real of million. XX. consists loans, $X estate totaling
in down we we X,XXX value were second that XX, in million. with loans, $X are $XX million a June quarter, we from of the SBA. the quarter, loans forgiven PPP million originated the Also carrying approximately by reporting QX. $XXX originated In of PPP As million second totaling $XX the
concludes as time, million As were the forgiveness that over into I amounted $X million unamortized approximately will the Ned. the Net the June SBA. The into fees XX. approved the And of of mentioned net fees accelerated net of margin my upon deferred of earlier, by of call this as turn And to depend pace recognition loan $X.X I’ll back remarks. income. timing these fees to at
