All on interest you, off I'll Joe. discussion Joe income net right. a Thank net on margin and and interest little that. topics a start with to few alluded
our So a and few state just I'll things work then we'll here through that. way
this increased of in quarter of or $XX.X So $XX.X the income second net $X.X quarter million XXXX. million to income for compared $XX.X second million million the was with in of quarter first year the interest interest X.X% Net XXXX. about
and quarter. bit year. accretion material some the fees both loans dollar that second the amount net was in That here this PPP in that Included little $X.X amount in was So we did last increase our of deferred amortization originated million quarter the to the to deferred a we year related We million. remaining any second this we quarter PPP at XX loans $X.X didn't is the in of that year first have of $X.X June our fees point. related million year year. XXXX this and net in amounts had of
Net their will would those this X.XX% customer But It's depend previous work quarter few for so year was a the So will they quarters. this how amount anticipate that four into those on activity next interest the repaid. the over the to income we the flow through loans quickly of margin a of going year in get X.XX% somewhat process third truly done and to compared we to in decrease anticipate basis and fair forgiven be second year. points. quarter, fourth quarters that
net of interest this basis June this ended XX the in first of year months versus XXXX. by For margin three six of quarter to decreased the we points our X.XX% compared QX year,
of yield decreased the last about rate XX basis by the year company. this that quarter asset as loans of points, average the relates So, we average the A did our on second experience on comparing basis changes deposits points. margin compression lot in mix to second while we little said. quarter the A that of interest-bearing the XX decreased versus bit year,
bit year, the yet little year. quarter got we second in more to a last in still started liquidity So quarter we've second have quite but more a the this
cash investment million on So the two and our $XX securities average higher higher. were quarters comparing million were $XXX equivalents average
amount system now a -- of right versus year bit little fair the more a So liquidity in ago. a
additional cost full of and The from this our cost XX XX net about a been believe points our on accretion acquired And June have margin two issued points basis we seven basis additional about to portfolio of about that four got reduction this versus subordinated the year, the a then there year so without basis that year the basis liquidity, quarter would notes periods. interest compared margin. the we last So of higher quarter's was quarter. the points basis worth middle eight period or a that of ago that's we've yield if of the you FDIC about points points reduction in
you back compare things of asset mix little when we well, has what's like feel the Joe in our So those stabilized just a it said, the holding reduction lot now a fairly is and margin is right still like it bit.
year, deposits yet quarters, time are going to or of deposits as the months interest couple three reprice reprice quite probably lower. and year excludes last margin, costs net to is of so our rapid some yield some basis to to which quarter last go time a bit as core there. both still room continue a deposits we've our more the on in core continued X.XX% be to decline next the that still and It's And time as for the little going funding not seen there. We on Our this second in higher in have have X.XX% there three lower two overall but the quarters. was accretion XXXX, what
switch income. So to over now non-interest
higher A year of quarter mentioned some to We areas. profit fixed compared sell our this so lot a in originate quarter. $X.X well, on couple loans related was that refinancing those last we of -- secondary loan we've were for part, that to year $XXX,XXX the About earnings on most quarter, things a were up non-interest rate activity, the higher lot we Joe purchase year had of we the to related gain that sales. Obviously, million. a activity before of income As ago as had loan sales and versus market. lot the
and more but point-of-sale that more thing. just in $XXX,XXX in Another that debit this ATM increase our year of part frequently utilizing year last activity as fees, starting our levels transaction to area growth we've of higher are versus cards it, quarter. this We're was their believe that where second accounts kind we second fees, quarter see seen customers
through interchange so from And that. a higher seeing income we're flowing
swap back-to-back of little That loan variety our income was to decreased other programs about year mostly customers. our previous bit Our $XXX,XXX with quarter. things category is compared a due really which a the to
We collect quarter in to in year. have year. of vice to generate fixed want rates we that we and very from rates the floating sometimes had and second a last that have versa income We bit second do quite customers a didn't and convert happened quarter that on some much it, the fee that and so this of
So non-interest expense.
about that $X.X was driven they about year. in expenses costs. than of salary and were Our quarter so A $XXX,XXX were $XX.X by second really last or They of were million. million increase higher in benefit the lot
go Some I levels, that had incentives in mortgage that higher Obviously, increases, normal along increased there just with annual origination was of income as a higher lot area. and some attributable some that. merit to we are incentives said, our
are it. of and part net the was origination loans taking is is of another million $XXX,XXX loan of made. overtime about income or And that so costs of then, to so $X then, netted those and are deferring loans fee related it And that piece costs together outstanding. And interest the the when the
increase I a had year. little deferred costs XX.XX% this the that last quarter. in we XX.XX%, The little That Joe is non-interest to increase out got a in second of there ratio net mentioned of taxes. difference was was going income, non-interest improved offset last in that efficiency is ratio And due of to think mention a increase so an And to bit quarter that our in of compared in expense more bit partially interest was expense. thing Efficiency I income XXXX. income by again
they rates our in all amount quarter have various Our includable rate the XX% lays jurisdictions that do XX.X% so taxing somewhat have, income of is just different have XX.X% We're kind gross tax federal the what We a that's we income and in have second rates. the taxable rate that year's of mix versus how rate. our and income states. out of are year. this the the various we different was in it bit effective levels little Effective drives quarter tax really of and -- below in last tax -- tax
utilization been And our it little similar tax than have maybe driving of have higher, level the ago. so, those that of been anticipate where two a is investments. range. our of a that really to a and XX% things going years loans But kind of was in year credits we couple tax rate the bit XX% We probably kind and going tax tax-exempt rate the rest be of of forward to think
will the that Question-and-Answer that our questions be questions. attendees And remind So at we operator you queue concludes happy please for Session today. And do in any have. to I'll how remarks had entertain this I time ask to
