that, income mentioned Thank income off from little fourth highlights a the some interest you, I'm really already about million interest start net the compared with down quarter, the of echo was net a things, couple Joe up just and right, bit Joe. year $X.X our that quarter. ago of of to All just to going
quarter versus that from As Joe fourth this days were less mentioned, calendar year. part two year first quarter big a last of the
the year lot X.XX% average yield quarter of of investments, was interest quarter mix ago the increasing XXX first X.XX% was increase really first loans quarter XXXX. those a a asset basis compared Net from 'XX average Comparing margin about increasing kind rate on well. as quarter XXX bearing and of investment margin increased while fourth 'XX the The in loans of first related periods, to points. with security interest average also expansion X.XX%, first to in is the about average in basis in on XXXX. points, deposits versus margin interest quarter Net to
stated generally we that. rates rate get, from increasing to have as term get here and an income a rates fed like some We before would if are As us seen funds rising from standpoint. interest environment, we Fed still interest beneficial particularly short prime a shortly, we'll raising and continues would benefit anticipate you
in However in be we into which a ramping have offset lot by obviously April. beginning increases those and, continuing will up, funding positive expect down impacts particularly significantly this March year, costs, started of
as first half then to of kind through and the we market XXXX, that So start point. potentially rates we go beyond, depending up expect and deposit at further costs on ramping of where trend funding of
we the XXXX, few addition just year. a on repricing In do have throughout to the the things time deposits, maturing remainder happen in to remainder going going of which of are
settlements, on some We filings are begin. have We had calls. that interest interest net disclosed starting in also which and to previous forward some slots discussions going we've rate
in were -- going there no -- net not we're starting to we're those, I Those settlements are believe, not on those, were but begin May. due now
where are into going from those the to to So income state they have we here negative currently. that interest rates we into as second start going -- quarter assuming some we're are
now about I'll So a bit little liquidity deposits. and talk
funding position, generate in very it's to we and We available present liquidity cash future resilient. our earnings to of obligations; got meet this is out usually quarterly release pointed filings Our which ability readily highlight just We've and it our measurement sources. our a time. those in
the the funding pieces that the capacity biggest more it not reserve total the reserve ability that's we've are line, about line $X.X got line put end federal and/or and into of March, sheet recently. or balance billion at home into temporary So components, and place down bank liquidity availability new but loan breaks old they line different on federal of
availability substantial So we've funding secured amounts got there. of
million $XXX In old new the pledge to we home addition are either to loan their we the securities under or that available that, program Federal if actually to Reserve ones, the funding of unpledged or have, one. at chose bank over
secured on books a and in we quite of So standpoint that liquidity from a have capacity bit lines. both
million three network from of sources months deposits through million. to our time Time about corporate utilized through of a million. that's March about the services group increased deposits and total XX, and that period deposits about center banking that we time. increased variety in During $XX $XXX $XXX our Brokerage time increased
through non-interest decreased quarter. in bearing about originated that previously year. and in about as of we've increased the $XX internet type balances $XX and million X.X% about by of about That's our channels first million of accounts X.X% then Time balances those million $XX end balances by deposits in the money market checking decreased the interest-bearing checking about or primarily
concentrations high low industry of deposits, sector. type well that about what of end is Joe any As Joe deposit our geography. customer have to deposit do base reiterate level deposits at mentioned, We or is and don't significantly a diversified XX% of which have our the total we particular tied base demographic I'll March. said, uninsured by of
information total Our granular were more We've got here. a million. little deposits $X.X
roughly deposit $XXX through and XXX,XXX core million, broker spread accounts. at March, about So, deposits, which about deposits active in base had are the of end the was then we million $X.X
this in sell the secondary kind cost fixed same decrease last by first XXXX the quarter that loans first We $X.X biggest quarter of compared year of we the about a loans, fewer through to was compared had income of sale last down on this bit market. things experienced year the The Non-Interest in gain of that year. originations first this quarter originate was and rate quite we million. the first type year, to obviously for net quarter
that gain on then the the primarily was it derivative rate another interest our remainder And also a of loss decrease product. component of for or accounted
back to of to a on we've we gain year that loan be So quarter first year. and first the in of broker or products $XXX,XXX are the that recognized time these quarter a initiated deposits, loss swaps of are in $XXX,XXX last had swaps versus going this back
there's all are on things that back the going be to market out those things based over work but zero, time, recorded their some have rates. and timing, So to to timing way
a normal first we the last increase but million in the Salary that quarter first nature. to compared mentioned, There's fees of items, last few were Joe million professional of first quarter have $X.X professional, an to not legal, or things to components did as expenses Non-interest compared there, about quarter of million legal 'XX. year. merit in benefits $X.X $X.X up just larger year. the The increases, quarter, increased and compared about employee
Charlotte than have to which defer that you it not loan accounting the time did of open we originations, origination loan $XXX,XXX piece a where we the We have just more function was to fewer costs LPO, this and in larger ago, year ago in quarter and first did and had related of at so about costs fees about year deferred so $XXX,XXX we year. the another first kind in then of was of quarter and
first lastly, about that then types license of $XXX,XXX ago. And and were expenses $XXX,XXX than quarter About year of a higher support. computer is occupancy various
previous prepared of things getting and had just for things that things nature. Some conversion renewal things that we and system other the
So of that about nature. there that it of maintenance buildings was a additional larger repairs piece it. fleet some our was That just a was variety on then things and and ATM $XXX,XXX of on and and
improvement mainly ratio quarter the offset income is net compared really XX.XX%. last just in ratio income, the first the to partially by the in efficiency non-interest interest in year Efficiency the That increase first XX.XX% expense. in increase was and the quarter
We mentioned, Joe losses, not quarter in loan good. $X.X quarter. a our did portfolio in XXXX. provision credit on provision million of have expense the for expense credit our We outstanding the quality remains first of first Provision recorded any
have and bit about negative the a For provision the year expense $XXX,XXX the of loan net credit at of actually equalled of We that $XXX,XXX quarter this in a our unfunded also first losses XXXX. first first $X,XXX down three March come a of that compared commitments, was X.XX% XX. negative on our portfolio of the provision outstanding months to in which on the recoveries portfolio three and and experienced this for months allowance quarter, we a provision has did year, expense negative in
I'll finally, mention then And income taxes.
XXXX. three the was XX.X% rate for So this in year, XX.X%, comparing quarter of our the months tax effective to first
states interests, rate of a variety tax expenses The things. of in also the things impacted by effective tax things have state tax the of biggest our investment that nature, are that of exempt of and then Our we utilization tax as We credits, do variety the is this rate are year. things we we where think all that. range kind business so, through remainder those move that in XX.X% of currently that on impact expense and our XX.X% will normal tax be to run that
that questions. at concludes time, remarks That entertain and we'll prepared the we had, this
once in again operator me for ask queue attendees how to our let questions. remind our So to
