Thank with, Joe and commentary you, said, income margin, net Joe. interest I'll some off start there. as
of net was income quarter $XX.X interest $XX.X $XXX,XXX quarter in $XX.X the So the compared this Net million interest second second about for decreased first income XXXX. to in the million of to by quarter year. million
have quarter to did we million $X quarter decrease year. of the about compared a second in So the this first of
up change time some deposits, the on interest then about savings that on QX, of our demand $X.X and expense and time QX interest-bearing deposits. about Just items increased about on by million are and and those that increased deposits, accounts at kind retail between million million brokered $X.X of increased made looking $X.X
weighted and interest the interest broker savings rate and to really and on average interest-bearing the increased was due demand average deposits on basis about for market The QX interest both to expense coupled with those. a interest-bearing average rate due while those XX interest are deposits deposits point So average increase increase year. comparing primarily demand also increase in the XX QX points, balances accounts rate an this basis basis increased points, on in the savings increase weighted to in higher by those expense interest and in The time was rates. XX on time
income loans interest increased million. then $X on And
by loans quarter. funding several interest increases a swaps forward place reduced net to in So in But of by when the offset kicked with and dates rate million this year the is ago, $X.X bit in initial cost ago start of little second that settlement. interest on those start months put compared some the that income XX partially in were in nine settlement also had or May two first quarter those to months that on we the
working further back way So our of little that bit through kind a discussion.
those And resulted higher from for competition then from non-interest-bearing deposits higher rate competitor significant increases of was shifting savings to further shift that So and and rate necessarily currently and to very there mix the that rates don't and also also accounts some by mentioned. going the funding rates deposit on see really cost checking low could are rate in I those product impacted higher accounts we mix. accounts. those types interest-bearing be We expect market we
deposits a that Higher put actually, funding ago, relatively had amount in matured on the significantly several caused by a lot second matured time rates that the quarter. few of here costs of time quarters at deposits in bit and was quite quarter. months a were deposits We substantial second there these ago, on a low
that quarter – $XXX about a with X.XX%. second were maturity at time weighted rate million average the in So maturities at deposit
with higher other when or then the So sources we turn the company rates. left renewed rates market these current required the at that funding they at in replacement
So And of advances of stuff Loan if be brokered to have replaced are a lot to had type that Bank that rates. to rate. to over go or X% plus backfill would like been X% they kind that Home going those
quarter with the in category maturities less third of X.XX%. a at $XXX deposit rate the this time of million average year, In this weighted much are
expect renew probably that we keep above rates do CDs for to we able and will or again, are to be those at new So renewal a X% maturity.
on the also in June $X on net whole in quarter. affected QX. $X.X I to deposits, where in funding swaps, of million that ones a higher a at interest negatively was they've income the terminated don't then at XX, changed cost rates second by interest date, swaps, impact the the we've we Based of since the income million were think rate mentioned the which interest Besides expect lot interest and before, current about be the to both negative quarter, of all be third there'll ones and I reduction
from I quarter I quarter, was margin to X.XX% down. just in in net in in drove last down believe as fourth a we able listed X.XX% quarter the were first of XXXX. But the last also was then happened few in out – were pointed things this X.XX% interest quarter first year, And in that down that quarter may the of second year. second second maintain from earlier, net the the And a that mentioned of the the year. and that our the recall, from was little margin margin Joe basis you As XX we then quarter X.XX% interest bit points
$XXX a Liquidity couple is a and liquidity. of We've up $X.X that about $XXX Loan cash pledged of Reserve sheet Joe Federal some securities Bank makes what high we've of cash that and at about around million level hundred of not off-balance are mentioned anywhere billion information then deposits, sheet line got and million have. and of million, more on-balance Home dollars. detailed equivalents availability $X.X and we funding got million, Banks
anything cover So of believe to we our standpoint. funding do that from come sources to we a way be liquidity would significant what have
total in that Broker three $XX deposits million XX, by increased time deposits months Deposits in frame. the ended about $XXX were June up million.
time through down was Our that and about channels our $X deposits we retail banking was generate $XX about million, Internet then down million. sources
non-interest-bearing million, $XX checking million, and balances X.X%, then about interest-bearing checking decreased So is balances X.X%. $XX decreased which about
mentioned, a deposit of level billion. have do deposits, uninsured Joe we our $X.X of As low total about pretty of XX%
about you are $X.X deposits. of and of approximately various interest-bearing a types time and checking XXX,XXX deposits more little give broken then deposits retail brokered $X.X billion down more that's core granular that accounts. information over billion spread bit million with Just and $XXX to And of non-interest-bearing, is savings
income that $X.X a We million related second for about year. about we million in quarter. was compared income. this in was assets that some of gain. didn't quarter Non-interest quarter second have into We of that decrease the $X.X to second the have the of replicated a last other Much year-ago year did sold
second in that made quarter. down some the us. different lower ATM now $XXX,XXX to transactions of of mostly point-of-sale the up routed compared fact to were is through about channels decrease and that prior fees And That are really kind fees being provide year
least how been we've route got can them provide and things changes at merchants There's a that. to in some of couple do channels for to
they the choose million Non-interest can was up want expense merchants second last to quarter $X.X those rails the so And year. send through. to which compared
increased to and prior and year prior audit were a related repairs maintenance from and versus $XXX,XXX of there mentioned core about license $XXX,XXX about our period fees Occupancy from support, and expenses increased more year. costs and variety about $XXX,XXX quarter. some There Joe components around buildings this the some fees $XXX,XXX professional That year that. year. system grounds of the various was computer earlier, some and equipment to things in professional Legal various last about like then there, and were conversion.
our year insurance FDIC increased were going they had raise – this announced FDI insurance rates. that to year insurance FDIC quarter. last premium to year compared the finally, – then previous insurance And The premiums this premium
also and versus year The this XXX,XXX And the first so year, about the compared related year. this this And quarter quarter for to XX.XX%, second slightly second to quarter income more you quarter ratio in insurance would that of quarter quarter levels year's only were had last last was in second expense say second year. we to XX.XX% in expense non-interest second the that to the non-interest I compare when this year changed first comparing compared quarter. they efficiency
Joe the the a losses, credit the did any related went We to earlier. did to quarter. those Joe We as of in the on million And unfunded for have expense Provision quarter. quality not commitments bit little outstanding negative $X.X commitments have mentioned provision level in credit as of did earlier. expense mentioned, provision we loan have last quarter portfolio provision year, in our about second commitments. our related second The second unfunded down,
Income about were XX. of total as charge-offs And loans $XXX,XXX charge-off losses amounts. minimal was the it rate taxes. our XX.X% quarter for The Our think in of little second XX.X%, in a so at was year, effective was the the X.XX% quarter this last quarter June year. then that tax in allowance percentage high was the XX.X% type Year-to-date, for range. rate I second credit and pretty effective
going then But – state tax have investment loans, rate kind file down have investments is brings little tax credits in and again, of tax some we and we which and where there's certain a XX.X% do bit. there a to utilize some are up in the expenses going tax rate future back think XX.X% is related we some requirements various that states, to So bit. our the that to somewhere there that stand be forward, where the here the effective in we to bring now periods. range next We that right effective rate
ratio points in I'll The then the capital actually we on And one item X about X The last was Tier ratio as our X. capital is equity that X. company’s discover points Page mention common shown a That company's the Page XX.X%. on bullet some Page page bullet capital holding Joe section. one on the shown – on of earlier, of typo talked XX.X%. and and the did and was
a number. is that pull as correct XX.X% on that So the we page There over. first number typographical was just error
So our for questions. to remind operator entertain to remarks. can the time, we ask in queue questions. call concludes this those that our prepared And And at how on once I'll again
