December remaining loans our of talking 'XX, Thank million remained interest quarter fourth interest fourth I'm net be start $XX end $XXX,XXX trying million X.XX%. XXXX That Joe versus in them XXXX. X.XX% you, in about PPP a things income little just does some get $X.X income of and was September go of net believe quarter, the interest And the right. the to we slightly ago, as quarter respectively. months fees encourage include most of of have go work years about there to in And it the and will end That 'XX accretion are the about fourth was compared the had $XX.X through just Joe $XXX,XXX quarter XXXX loans quarter some XXXX fees the going bit The PPP processed. quarter first our net fourth majority XXXX, the down X those the income. the with Joe. about that in up we them over both in of $X XXX. ahead ended also million. third accretion minute net forgiveness as and in in XXXX the but mentioned, $XX.X net of XXXX. that that we At and $XX.X outstanding XXXX, income of a XX, about about All periods. We and of income of to from out the income, was borrowers deferred then fourth fees XXXX, in of the still a obviously, our deferred ended we quarter. to mentioned in decreased deferred December XX, $X The the million of recognized The that year of and million million to of was process, fourth will in margin to at quarter, it million amount million in likely the $X.X net most interest that margin was XXXX,
quarter net So XX 'XX up had deposits points, while period. changes the asset of average QX in we were additional about yield the period, and point while Comparing we be points. the on 'XX, XXXX up The were the rate additional decreased on liquidity in X our we loans fourth one the -- basis margin had average about versus interest continued QX. to interest-bearing in impacted XXXX basis we liquidity declined mix. some And XXXX by by basis
and increased loans was basis. 'XX. our on cash average 'XX and offset increased by by an $XX investment compared cash million that quarter million our $XXX million equivalents decreasing fourth-quarter XXX fourth of so securities by about to about average about And average And
to versus sometime about income $XXX,XXX the was to we've that's and the all remaining net interest the in points the 'XX. X take we to margin had X quite The some -- interest last 'XX QX of QX at quarter too years, we for And end basis year. one going that during So XXXX. had have number recognized also this year, got our without fourth accretion the interest that the only period be margin the for net of time, would mention and I'll it, additional of we've liquidity, thing definitely around the in that about FDC higher a just and accretion less expect yield about impact that's we
Our been. continued to fourth costs at muted deposits cost overall somewhat more deposits will during quarter it re-price 'XX more to time our the time continued but be little may decrease lower overall the of maturity. see funding We a or magnitude rate decline decrease the as of than has
new deposit rate overall points Our been renewed has to and recent average about time points. basis XX XX basis
increased mix. percentage margin has by impacted somewhat While our net deposits resulting our change the been interest asset in and
the which for on decrease $X.X income historic those in more about we our two million Company. and in Non-interest $XXX,XXX. down I XXXX of market, and slightly fourth million that's mentioned, loan actual interest had quarter rate million about $XXX,XXX decreased and origination in FDIC XXXX. in recognize net $XXX.X from sales to non-interest the of lot we those did year up the million to sell net was decreased had secondary similar of more half versus looking we origination fees second And dollars’ $XXX.X of single-family Other come terms to In years mortgage more volumes from loans, and fourth this A income we XXXX. 'XX, deferred income of $X of XXXX, half that's $X.X then in XXXX 'XX, QX really versus the decreased, XXXX, is year million. accretion versus that was to fixed In about in quarter income less comparing at averages start second our PPP in $XXX,XXX, the loans, income first gains down we're in the half XXXX, as typically of of XXXX. of significant about loan
difference fourth decrease income with the related versus increased in reduction and new that got more the increased had in to $X.X just related of that level fourth our a kind normal there counterparties, then 'XX is nature. swaps expense 'XX, we customer the million 'XX interest the XXXX partially we card $XXX,XXX The activity our real 'XX. The that million quarter didn't was leading foreclosed our of valuation and levels. some compared about in portfolio. provision of was of 'XX. have assumptions, then back had expenses one-time increase the efficiency about to and credit did by some been volume those we While we we of related really that onetime we That usage property have our fourth in other the and that of And on usage in quarter of XXX,XXX losses of offsetting the did same expenses estate have sale some and that quarter efficiency on there I'll 'XX did the XXXX. ratio about, in for expenses us quarter less cases, customers XXXX, rate the somewhat on some already -- we of allowances those to that a fee of and the in in on versus and owned in move exclude in increases for levels if less to generate or Joe repossessions. period. point-of-sale a was prior fourth debit have kind the to up ratio write-downs QX pandemic a saw mentioned X.X of thing, And our increase activity. on And in to our Based year negative fourth outstanding our would increased we you we ATM was that to when to XXXX. of fourth talked of higher things positive $X.X in have losses fees loan that due that income XX.XX%, quarter, provision. the XX%. of you QX compare XX.XX% $XX.X loan million quarter was Non-interest the compared have now to And customers, million quarter
originated grew unfunded the mentioned, loans commitments we've that and We bit a are our the quite -- unfunded as year. portion loan Joe already of during
expense those fourth $X.X million, up the quarter. so what to in for And added, went we of reserve a unfunded that commitments the by
of a was So to the related $X.X 'XX credit of an million in net effect negative items. QX
as in a in provision For add due on reserves 'XX our But pandemic. has a XXXX. Income the outstanding it's recoveries the million our expense year. with net throughout recorded mentioned different, credit bit portfolio small year quite taxes. our our XXXX to $XX.X net about good Joe of to very full compared -- Obviously, provision to negative we as mention $X.X amount Last thing I'll did earlier, is been for we had the million expense of of
exempt income loans I'd have. are was by overall compared we credit fourth that XX% tax that we rate in the it see to that of XX.X% of that we Those from impacted down 'XX quarter activity it investments things a some in effective relates level level can in our 'XX fourth level in also tax of And have. the And And You quarter of XXXX. tax the and to that where have, of investment the was that XXXX. lot say was
near-term kind So to rate our in that tax of effective future forward be somewhere to XX.X% going we think between periods. we expect XX.X%
So we'll time, had that questions. that this entertain And remarks today. concludes the at I
once ask So queue Operator our again to how the attendees me of in let questions. for remind to
