on to also earnings and to similar the And the last comments and contained was my portal. our our today's information quarter, Chris. included will within last website filing deck refer that in X-K investor presentation it's you, available Thank night,
net deck. quarter. there was the Worth into diluted from notable second was income that million and quarter EPS within increases GAAP related slide $X.XX, items both the of operating reflecting non-GAAP four quarter were results. second $XX.X prior no XXXX So, jump noting
X.X% Our by key growth loan for driven activity. consumer annualized PPP quarter when the loan drivers loans, net excluding include strong
the modest for profitability. balance core The deployment continued balances, margin, in interest purchase PPP-related impact, quarter In margin into net into and bit. nicely provide X.XX% environment impact accounting rising X% and the the rate we little the well. the here for the detail up quarter, which of to I'll reported to from the more continuing a and and cash And portfolio, cash addition enhanced some benefit up to prior sheet excludes increased was securities in overall remix reductions as
deposit Provision New strong reflecting remains account quality time balances. zero, strong in the activity asset reduction lower was the core deposit with continued overall metrics. primarily deposit being quarter by driven for balances
X.X which its during share quarter shortly. bought the the modest a provide shares repurchase more addition, increase both operating and higher And million on quarter. included under In program expenses, income the company of back I'll detail fee in lastly,
an declines the to XXth. quarter. a other return summary, in repurchase addition tangible sheet a for net decrease basis, as activity, return attributable shareholder unrealized the view in fundamentals X.XX% positioned drove losses, fair and These valuation and reminder And for of and by reflect $XX.XX also quarter, hedge on moving increase common losses value of profitability equity results tangible a comprehensive to on in On our to last similar June average the certainly tangible to So, the $X.XX of operating tax. book the was we a core available and evidence forward. both GAAP return quarter's factors equity X.XX% impacted of strong sale, on and value to XX.XX% results security book value the negatively and aforementioned assets balance great share common as
slightly portfolio we into PPP, increased move here, shown dive slide the results. of loan to the As we'll quarter components of five, billion. to inclusive key some as And $XX.X
for PPP, quarter. grew the as mentioned, rate at loans annualized Excluding I healthy X.X% total a
you strong retained C&I while construction, see legacy As on six offerings benefiting utilization. both on as for activity the on the Boston or for the balance sheet, residential can as XXX in with demand the line increased the and estate both primary occurred Commercial from growth real the some category home were increase, provide the the quarter, portfolio around equity as X.X% pay-off portfolios PPP was slide, details the the dropped of as consumer in activity remains Slide quarter. increased overall elevated. million line categories of additional East Also, balances and quarter. loans utilization well production drivers excluding meaningfully majority vast in loans, also portfolios also
noted much reflect type the of With side forward. the loan commercial the activity coming but for strong million. slide, commitments quarter, level second production the fundings, exceptionally As going not was in $XXX of construction increased quarter of on of with that outstandings bode and for origination credit did same utilization increase the of left line from well total closed other total
pipeline the prior quarter was In the notably million, June from $XXX XXth addition, million. of $XXX level up approved commercial at
activity construction condo, asset we for majority continue four estate opportunities the our centered to and real as market, Now, and of to around our commercial family, see classes. apartment one in
C&I prior the net slide, the retail the $X.X million on this side, totaling to to quarter provide only you unearned with in the paid XXth, see trade continues net PPP balances generating quarter, compared June noted as can solid $X.X While $XX down flow. to of of million $XXX,XXX. fees industry fees recognized Also on deal remaining million the now
the we strong slide, the side around activity key quarter. reflect of right metrics consumer the On book some the for
see And we sheet company's market natural proven quarter, quarter's slows during as the amidst and as the home was retained and refinance the dynamics products our XX% the as pricing cycles, secondary well. equity balance mortgage activity Given hedge show prior that rate environment, has position down portfolio. the the approximately strong rising out its of value really market the in history in
second growth lines led increased home along those equity after So, the solid just mentioned. quarter previously I line closing along prolonged real period which the balance challenging of to saw growth, a activity, utilization with
we cost in both overall and the eight In we to activity the on allow core of the reconcile the on volatile XX back into accounting reported and deposits here, segue the for and results of interest a move provides increased of deposit for with points net core lead basis or environment, to relationships increase core the as we XX.X% margin when likely a focus consecutive to driving as for quarter. slide money nicely of of slide And interest you the deposits this in prior as to breakdown can our levels quarter. long well expectations for net deposits some as particular, serves, will reported standing focus impact, quarter excluding total the over quarter core PPP market, of the exit enter adequate asset-sensitive And basis in remixing and points This as quarters, I And well time as funding, a a the results quarter. comprising for to positioning as decline rising interest deposits As bank excess compared deposits. as fourth line reflection core margin. liquidity. interest as prior increased and margin core highlight items details rate company's remainder the net With only the quarter. of sensitive over presented XXXX which its in results, we margin five over the non-recurring cost the managing the seven, June level money the quarter some as we net of margin. low prior a of rate slide nice margin effectively think, -- favorable an is as while XXth, purchase was move fees see at overall with decreases deposits a to remained This in of the deposit for
margin As assets bottom sensitivity. slide aspects the on an provided key guidance last this the of section right the the of company's quarter, update provides
Fed our cash summary -- Reserve SOFR, LIBOR, term these funds, movement with cash immediate is of would that loan in billion book tied $X.X indices. rates, benefit XX% we approximately balances one any see Federal or short-term our primarily Federal repricing of in and So, interest balances to in prime, month
risk hedges or of call long run, the offsets rate in earnings effort the loan benefit with interest that closed rates This million in the interest million of balance level to some and strategy macro partially variable During another million immediate still positioning in being $XXX rising of quarter straight providing improvement an current its $XXX on $XXX of hedges. to and fixed instruments of while rate the level we rate earnings, loan near-term.
would macro subset impact, in with regarding offset small a portfolio are of So, money, billion, longer benefit the just total term repricing combined index the portion the that I of with of asset floors currently loans $X.X described. a the hedge
will as So, we rate from rate of pace certainly in XX% summary, market heavily a cycle. And of XX% total would on have through approximately net previously, to influenced loans pressures deposit rates. noted immediately rising basis increases this benefit the
up consistent ticked some loans the $XXX another basis portfolio, total key nine or decreased majority $XXX,XXX million a Moving to to stayed were quality, Non-performing with June are XXth XXXX. delinquencies as total $XXX or charge basis, worth total XXth, highlighting. mere annualized slightly $XX.X of slide set on asset of offs million relatively June metrics that mature net and an to X.X% provide of one loan point the X.X% million at deferrals to that portfolio, of prior to the at
legacy increased will So, ATM And quarter, last metrics in provides strong was highlight. of prep hires as market-driven for prior success conjunction experienced XX challenging markets season despite increased with the on in and a interchange strong recognized gears excluding loan results during Total $XX.X we under investment prior to X.X% note, Shifting and a fees the and well swap all the in $X.X allowance retail with the from of The increases geographies. reflect our markets has earlier, into $X.X slide. loans lastly, capacity seen income assets primarily as quarter, as the quickly of acquired non-interest credit which increased in reps for by in company's few expenses despite at account quarter. reduction activity. money merger-related billion and a quarter slide growth, XXXX. of $X.X administration I the as as level have driven driven tax million details new billion commission loss the as fee momentum lending as nicely X.XX%. challenged the June items, insurance sales loss income operating zero the Also second rate non-interest really on quarter fees. for market these And inflows fixed a a the in now new seasonal seasonal quarter combined to mentioned have newly from absorb well stable expenses. nicely loan modest positive last straight next overall when quarter, management income mortgage and maintaining loan Deposit provision increase XXth, from income in Turn percentage products of both million, banking conditions, to by
and initiatives, to within expenses, costs removal compensation expenses salaries quarter costs notable items Some associated the increase in compared awards. primary decreased equipment. incentive the unrealized equity with and driven And include on losses the non-interest annual -- director last was quarter benefits, second equity when within snow securities, increased certain primarily other within increased consulting operational occupancy was by increased and
rate due projected the Lastly, in the quarter to XX.X% tax slightly earnings. the increase increased to for
few up finishing guidance. a provide XX, to So, updates with on slide regards XXXX I'll
do been year-to-date acquired a We PPP commercial the of approximately Regarding total described, the commercial flat growth XXXX, percentage we've small of by in decrease relatively inclusive business, as down balances which full in loan second real growth half East that's on low loans flat X.X% a and are would expected. Boston and in commercial driven to as we And basis. single-digit PPP runoff result year. anticipate for single-digit to estate low mostly
range. with single-digit into growth anticipate growth to home the residential equity, loan growth the Regarding to full we that And we year would the around high window, half full rate percentage XX%. for the percentage XXXX expected growth reduced as despite of in second continue resulting year QX mid anticipate XXXX in demand positive range, low peg the growth, for mid-single-digit at XXXX, additional which momentum second to half, in in six-month mid-single-digit
in operating certain asset expected immediate likely and and interest are growth, letting and the sensitive of tried acquired with success core levels XXXX. markets. total earlier be accounts extremely us June near expectations decreases will in and our benefit provided we in to both deposits increase impact allow and liquidity to guidance modest flat levels, resulting new in forward. out, hike repricing time environment generating margin that, core to the legacy rate of net in for rate rate As at future said continue Having drive deposit rate franchise deposit rising second regarding strong our the relatively half of balances level deposits the some pleased with we the of strategic Also going excess virtually to
we many for proxy charge-offs current In terms asset current though fears levels for quality in the future, environment, moving on foreseeable looming today's of provision with levels, going recessionary are to it's impact with levels overall based forward. real. remains serving hold so to as Though strong, tough the provision the allowance predict anticipate certainly pieces, steady
non-interest total by income primarily income. driven decreased pressure continued investment items, non-interest experience Regarding banking decreases, modest and mortgage could income management on
talked the this be program, low rate, lastly, second impact inflationary approximate as driven In addition, year it likely quarter, XX%. rate half of wage fully And will about the is non-interest mostly to tax we we'll factors. in That our the my at point finally, expenses likely the mid-single-digit and in for likely overdraft second any are timing later assessing now are to changes though calendar half other open a of comments increase also to the questions. not last final up percentage year. would changes we to expected concludes And and at determined by the and