and your to well time. to quarter and healthy and loved today you doing Pleased discuss the ones line during you, results Thank hope be second our that are Aaron. on this with you
important our Before was to stage, we get dramatically This it's the first before Jackson, Pendleton could the one set long the and When otherwise and think XXXX. to pandemic with as set changed. center economic no imagined We integrate these sights that global acknowledge last Revere of quarter nation's year, Bank second close outlook quarter of full Rembert transactions our events into financial highlights, had our quarter. on I we known and took the both of out this have RPJ.
planned. closed position of seeing both environment. Despite successfully a we transactions result Revere we systems on And this impact However, we complete are look remain forward to as to did. recent of as to We acquisitions, environment, I'm the investments. we pleased next when conversion we and growth extremely track of tumultuous full earnings these strength already of that the month term in the we're the positive feel weather long originally current our
we some now these of things a comment these on will During more unique we of as clients seamless protect Program and clients come safety community break our helped PPP. Through our worked local been big uncertain down and infuse important And the we bank small quarter. have to continue this COVID through hard the PPP, to continued times and a also is a Paycheck response has Protection into in our the the to my than remarks our as way quarter, to We've effective through dollars and or I health our billion over the ever. to attributes our serve employees, and clients businesses. later communities. for throughout role further
or for and distinct of $X.XX diluted first $XX XXXX, of $X.XX or million, XXXX. the per quarter XXXX. our $X.XX $XX.X This quarter share million million per second diluted now net quarter two of net per driven comparison through the events. reported by Today share for highlights. second However, These talk of or financial income for I'd to loss a the results were $XX.X like share
credit merger acquisition expenses to and totaled losses $XX.X accounted million million for $XX.X associated negative for of one credit And to totaled with current $XX.X due credit and provision Bank which the million. for our approximately our the of losses, provision forecast, $XX.X our one, million. this First, provision related day Revere additional the in acquisition the change for losses Revere, economic second, quarters
our In these a record through that pre-tax, results, to performance I'll it's few this pre-provision understand you areas core impact quarter. expense important our had non-GAAP our was reconciliation elements pre-merger walk our and moments of on and note income a help While significant million. for $XX.X you
Deposit period, XX%. Our same grew deposit assets June Total $XX.X bearing primarily deposits grew and and was driven total participation growth in deposits to experienced XX% Revere, and growth compared for XX% assets, XXXX. as was our growth loan bearing the PPP. the of to $X.X at by billion non-interest XX, interest billion
a is goodwill remainder commercial from us as XX, deposit growth households grew the portfolio drive helped our which $X.X heavy acquisition PPP new we June activity. loan is grew low billion lot and XXXX. from deposit pipeline billion, good X%. Commercial while production anticipate the in to results. loans limited, in mortgage $X.X $XX.X or loan refinance into term The to and $X.X we growth the growth Revere was grew grew portfolio at proceeds, from in XX% loans translating interest of rates XX% to Exploiting compared the today. XX, loans Year-over-year business We billion consumer billion program, come in In PPP XXXX. addition resulted XX% total production for strong the June to near which excluding to PPP by Total organic loans at the PPP both saw also significant of this. loans, built
majority or activities. $X.X prior sell XX% revenue increased mortgage the fee mortgage from tremendous from quarter, Mortgage drive that a increase of had the in $X.X million to an continue to million banking topic, of income. quarter. production income loan reporting On new We non-interest
also We management fee quarter was in card and wealth million our acquisition bank compared to offset stemming the growth million prior due income $X.X service of saw and first to the The temporary second reduction help the from quarter. decline of X.X% a of X.XX% for the implemented decline first impact quarter fees fees, increase quarter we compared income and to RPJ. $X.X through interest second was in of for to This X.XX% the This of clients year quarter margin service net XXXX. the which for our XXXX, XXXX, of managed COVID-XX. a
current million the the Excluding net would value of accelerated of fair of premium FHLB have grew from amortization the X.XX% XXXX. derived to $XX.X the the XX% marks advances, margin impact of the X.XX% or year quarter acquisitions, Non-interest on second amortization the been quarter. the quarter for of compared first interest expense quarter’s and purchase the prior and XXXX for from X.XX%
merger FHLB accounted As included non-interest $X.X for million growth acquisition acquired previously from $XX.X prepayment liquidation in the of expense. of million penalties the borrowings. expense stated, and in This also
expense annual to cost merit employee of impressive XX% delivered as of year-over-year impact non-core We been compensation related loan high growth result operational increases. originations, an would the of revenue, improvement acquisitions. have of Increased non-GAAP XX.XX% XX% for as XXXX quarter of Excluding the for compared current level a a Revere of the in XXXX. well the for outpacing and efficiency result as mortgage non-expense RPJ rate of expenses, these quarter of second the efficiency our XX%. XX.XX% and in ratio growth the non-GAAP growth the of a XX.XX% quarter, with is first to This the as
XX, the XXXX $XX.X the the million, June non-accrual loans at driven $XX.X have Loans compared loans Loans credit non-performing XXXX. to a losses for to at XX, loans been purchase was XX, as is of year. credit Revere the nonaccrual June accounted designated Acquired year XX million On of at compared basis to million of points $X.X amounted $X.X quarter to prior Acquired The $XX.X XXXX XX loans June Standard three and $XX the loans status. of non-performing XX, expected current totaled loans result XXXX. growth impaired adoption by of were loan components. XX, Accounting beginning previously million and quarter million as loans quarter, the for points in and placed during the the March XXXX, XXXX. June Revere to increased level first loans non-accrual placed non-performing to $XX.X on million year-over-year at on At company's loans that million. for side, non-accrual major non-accrual total for their compared at basis
recoveries The non-performing million million, quarter. March did for to half net allowance the to the outstanding XX, a million affect provision provision was of to equity for primarily of allowance for credit expense. to an the credit of $XX.X XXXX, growth acquisition XXXX. current in second and $XX.X and of increased X.XX% quarter at XX, XXX% Revere’s compared $X quarter’s the during of compared of loans PCD relationships. a X common million XXX% of quarter’s The losses non-performing impact remaining XX for current of at XX, charge-offs orX Revere, We outstanding June credit the at the acquisition at which of or $XXX.X the XXXX increase million respectively. billion first and loans three resulted the XXX,XXX losses result growth recorded quarter large XXXX. the loans not Tangible loans Excluding of June and June XXX,XXX compared and XX% attributable for $XXX to net XXXX loans in quarter second the the of the XXXX, XXXX, was losses of current The to of loans was non-accrual of allowance
of an acquisition. total acquisitions At tier ratio tier leverage equity change a goodwill a effects a XXXX, XXXX, of assets has common equity of XX, common XX and the equity one intangible related to common the dividends beginning past risk the and As in during XXXX, months. with XXX. one reflects quarter based ratio the in The and the XXXX, second the of in of ratio million of increase capital increase risk ratio associated and a also of $XX year-over-year the of issuance June the one based company the of in stock, Revere two XXXX tangible a result capital based repurchase capital risk tier
through this contained operating we underscore morning's the third want after with quarter to release, page Revere. issued the our I'm also earnings, going performance morning, on we transaction based closed we tabular of successful of the non-GAAP tables metrics second the the the supplemental strength in Before it's refer non-GAAP this the I to to understand and talk information, To data.
the the underlying following, expenses, EPS a quarter provision of impact net day net our provision was net with June Company million, on tax X.X% credit merger million expense, you forecasts increase of operating If quarter, of ROA to losses then merger pre-provision, interest the year-to-date to premerger non-GAAP XX, of funding XXX,XXX million, provision results $XX.X the performance tax and X.XX underlying of and net a earnings one operating subtract pre-merger The the loss adjust fees deferral Despite when related company a net, in of benefit the and for for XX.X in the million. for the of of expense $XX.X pre-tax, XXXX. and the TPLF of over participation of million million the tax of further income deteriorating on $X.XX, both and second solid. XXXX. the performance our demonstrated adjust related a impact begin a expense, the economic expense $XX.X evaluating quarter improved non-GAAP pre-provision, of expense of also X.X expenses for is The of has which for generated the and PPP and and of for compared pre-tax, a of the our operating second XXXX, basis. in strength from ended X.XX% has of This very income including compared quarter net XX
equity return-on-average quarter, was for Additionally, for and the our second year-to-date XXXX. pre-tax, XX.XX% expense, pre-merger pre-provision, XX.XX%
to very we build strategy to related this RPJ franchise the remain the and we COVID-XX. Revere. work an I with to that to pleased current and with the the state update information transition I'll And with that, supplemental industry provide to return changes our specific issued CECL current my addition So morning. related with review to I'd capital assumption as of continue allowance on up of losses, it the Then trends. on it as will accommodations our Mantua loan and up there and wrap well status from pick update and colleague, then And comment position. methodology for an Phil credit the like
little comments can as has during So slide first changed within investor quarter our two, you the see call. from deck, from supplemental the
We effectiveness agility working only. of with personnel various work, employees, channels location. the more our non-branch of our through with of continue of including appointment serve their regardless to very We've than continued remotely, XX% impressed the our and the branches by clients
of implemented CDC implemented Our reached And We out needs mobile very at back XX% and continue our our understand Xin concerns a transactions occupancy employees guidelines. a to team which and and phone. any of clients continuity health return-to-work drive the given workforce Phase to July, our the the their strategy. employees developed conduct and We at to follow branches our a on all employees We and business normal the location clients caps in taking has comprehensive take approach four July deliberate we're several additional or into to their it remain to phases online accommodations. our Slide realistically bring office. provides to clients of of loan both will but majority quarters the could our on or able, implement. and information XX, banking, through focused be as XXXX, as months fully we're
As total were accommodations XX, or of accommodations their at total and or in $X.XX all our level. granted May of totaled billion highest April XX% portfolio, outstanding. billion PPP less July $X XX% totaled of loan
six, the on July a this but also and have XX% be not additional notes, of initial borrowers. are this with additional initial we we in setback we their our from clients PPP Slide needs. by X.X to industry over with non-profit nearly supported we low-to-moderate of the loans went at that days. nearly jobs PPP to understand XX XX% have each five is as million segment to of beyond income to that, accommodations total, businesses discovered advanced of And XXX,XXX And of continue XX% negative billion over XX, and requesting in in an trend. to very client XXXX response covered balances encouraged XXX. provides advanced area touch loans We data days XXX close the approximately last quarter. region our slide summary for loans XX% We're XX our accommodation continue to a organizations, as clients. segments neighborhoods. Outstanding In and base, as a region, five that reopening do require our Shifting and are payment of evaluate could impact point, this XXX. the our
as with on to but the we've working are some determine conducting continue management relationship clients, work this our maybe a our We potential proactive the ongoing we mutual base as actions impact may approach We take businesses by portfolio the of we portfolio. weakness. others believe seven there understand this, as into relationship of details identify Slide are to to of drill to the we continue weaknesses. the implemented client reviews. many we to specific we're where encouraged in to early of and client Overall, in down banker be innings cooperation well pockets
commercial COVID real We consumer of also a and including migration, migration. conduct both payment risk and trends rates score impacts, perform portfolio And estate the monthly of Beacon daily delinquency monitor number and additionally, for testing. related by we mortgage monitoring -- portfolio for industry, stress and utilization accommodations, possible rating
Phil talk position. with I it turn Now to and our that, to will over capital CECL through
