increase probably will than XXXX. last and the that. year. interest interest same on appreciate Joe, were with net in in show the the fourth that I'll Market declines periods you, assets others, the comment comparisons net and And we income Thank in general about discussion pretty income interest quicker a margin. able and increased rates with year third maybe quarter unlike XXXX, just our begin just start right. rates from I'll significantly liabilities to not obviously All this
interest for bit of spilled quarter achieved we us, and XXXX in half first so peak second net into interest a over of XXXX. income And margin the the little and net
which about quarter bit affecting decreased for and $XX.X time, $X.X really types not Net settling in net and little the deposit quarter swaps, or on million income bit quarter interest XXXX quarter for deposit the to rate the that began a today. have and million we've quarter, impacts of $XX.X XXXX XX% little of our the by approximately the discuss various driven since I'll some interest negative of XXXX. been third to margins interest was second down third also come and quarters XXXX, third income interest of of last would have talked that reasons increasing compared But -- and during for a in rates million 'XX the of
Those of of swaps in quarter 'XX. of impact million was second income quarter $XX.X a XXXX. negative had the Net interest $X.X million in the particular, for third
decrease we interest So this of versus a this was second $X in QX this settling negative in income quarter more impact newly the third interest those million between $X.X had of The year the quarter net about about million. and of rate year. swaps QX of year
deposits interest in a income of was a net low in second deposits fully rates the markets. of before. to company of were by at competition quarter the quarter QX level or third that also at had local there of the we in amount company's now deposits had versus all high The maturing these the The renewed QX. across for And impacted negatively time substantial discussed industry without XXXX time higher and rates our a in for of external portion was funds. replace as relatively we the impact And
and this XXXX. second in year. had accounts we That first have Customer checking noninterest-bearing first In of we bit checking again fluctuated QX both addition, of in X of in reduction in in moderated a XXXX, deposits outflow the the but interest-bearing balances in balances increased noninterest-bearing quarter, the quarter months experienced of deposits. noninterest-bearing of higher-than-normal
chosen deposit have accounts rates reallocate types relatively and increased account have funds interest time accounts. higher certain for market to customers As some checking into rate
there of as company much deposits the paid the of in year. what that those but quarter this as as little be quarter in 'XX in quarter, versus XXXX. not we it most than is rate what fourth more on in likely. being low on in maturing difference earlier should The be increase of bit repricing year. has the some renewal time this the maturing rate the The in those of third of second not had deposits as and quarter time expected maturing paid was second the the rate more quarter a the in will matured fourth great But
got but of the X deposit to million that X XX X.XX%. September idea, break XX in noted X.XX%; time months, then Just you average average million over release, maturities about we an kind a our to within rate next about follows: as give average with to XX, weighted X a $XXX $XXX million and subsequent down rate we've months, this of of about a to with and $XXX rate X within another weighted within weighted months, of X.XX%; months with
they'll the be probably So replacement rates we between that, to X.XX%. think replacing that we kind envision based at maybe of on that X.XX% rates on current
current income. negative impact levels, quarter 'XX net If these will negative rates in million. swaps Based rates negatively was Besides income the company's rate interest the the continue rate our I the on of the is interest interest in interest combined mentioned, swaps impact higher to approximately by interest costs release. as funding rate we have with have to company's on all fourth expected a affected near remain their on the market interest and as described deposits, interest swaps, $X.X of earnings XX, be at swaps the that net September on also
basis was in negative XXXX. quarter impact income of interest those The the of swaps one reminder, in points a on X, negative net the million. the And third swaps a all will third of That about had combined again, of as XX interest rate terminate 'XX itself and swap then March XXXX. of a interest impact impact of on negative million of net $X.X quarter margin $X.X
$X.X quarter, the impact 'XX quarter in fourth -- are, As $X.X million first on negative they then have then no again, a And quarter where being 'XX. expected the about first in the income in it million impact rates periods. of to subsequent net subsequent of interest that and of will
As also compared yield was Joe decrease the periods. the rates which about there of about the XXXX, between in XXX average comparing and the And a basis XXX XX X.XX% increased about second basis increased quarter net of rate deposits mentioned and on points interest-bearing The loan of quarter average XXXX. 'XX margin in 'XX to in to points, the X.XX% basis X.XX% points. 'XX quarter yield interest margin decreased items third same of in about period was couple compared while a interest basis of In it XX in earlier, net points. third
things more liquidity couple mentioned about say and that. earlier, just I'll a Joe briefly
Our resilient. liquidity to be levels continue are
funding the almost $X.X available readily Bank. availability have Home at with 'XX sources, the end Loan about at $X.X of totaling of We September about billion, billion
available should have readily we anything funds there. So we those need
some We $XXX those. unpledged to million of have we that, and have worth also securities chose could we do that pledge if we that's that over
that services $X third in networks, million deposits billion, were deposits deposits XX, during increased balances has X and during increased company's $X noninterest-bearing And total $XX the 'XX, total corporate balances time time then quarter XX, banking about about through decreased decreased Time increased checking the about September September and Total the or quarter. frame. deposits or At million million less our centers nearly than in ended and 'XX, million brokered checking deposits million. decreased $XX $X.X million months $XX X.X% third channels through Internet XXXX. $XX generated X.X% interest-bearing the generated
quarter, really In items. decrease $XXX,XXX total The component changes the no real the income to Noninterest there. was have didn't quarter quarter the compared items in we comparisons. of about XXXX, third any large variance
did for overall for We I'm a -- sorry, increased expense. have that few about For we expense $XX.X the noninterest changed things $XXX,XXX have quarter million. to did the year-to-date,
larger there in components A merit $XXX,XXX increased areas. bit quarter previous from operations employee quarter. about just in this the and and a lending Salaries increases portion is from of year had that year benefits normal a little annual various ago the Some variances of
a of in maybe bit were some were little periods. larger XXXX, previous In those they than
addition, periods, we two to XXXX. comparing higher originated year that originations of in resulted in so In defer decreased and compared accounting compensation a by period loan rules, in costs that as loans were to under expense those, levels portion $XXX,XXX which volume related XXXX the this the lower
license increased computer which the have quarter that versus did about an this maybe had quarter support period we increase we of year's year had of various this -- various We components expense, had That $XXX,XXX. of and our about and two last about previous network. year $XXX,XXX during of end life of comparing $XXX,XXX we just That the throughout And cost then previous the and have didn't also by more expense. the same maintenance repairs than some level expenses added periods. expenses, kind implemented had there, we Occupancy gotten year. our
those on The a that. next additional of items, things two little mention things some a bit there's couple clarification I'll on and on of then
due to from for Fund This coverage. $XXX,XXX was year increased deposit previously announced expense primarily rates Deposit the in the insurance insurance total quarter. So, prior FDIC Insurance increases
extra little quarter, will to probably normal in was continue $XXX,XXX. in that But about Deposit we there -- probably again that will we really be there expense will should there Insurance continue a after That -- up starting and have shouldn't QX estimate the little than be increase a higher of start fourth that, be bit caught in Fund QX. extra level. in the with QX, in level We
it normal after forward, be a should just going So amount QX.
a maybe -- call in the necessarily were in then fees, for third did that just In do audit, in some probably interest there onetime some -- the $XXX,XXX every that And we by quarter. other fees release. one some rate had periodically $XXX,XXX that sorry, of of wasn't thing from But type services large the but point prior out Legal, to origination amount, provided nonrecurring non we we fee a professional out expenses swaps about to related I'll certainly those or expenses but have we higher of decreased didn't there I previous was really were there. year. what not that I'm call us year, did quarter, there the $XXX,XXX we
quarter So and a and XXXX the decreased. quarter ratio the third expenses bit XX.XX% the denominator net income efficiency as the interest then increased in for to for XX.XX% was compared same
Provision for credit losses.
XXXX. expense of $X losses the same provision did our level as from relieve commitments Also unfunded 'XX, quarter record months 'XX, loan to down provision to record XXXX, come able quarter some mentioned as commitments reserve in a of X on we on September expense XX, previous company the during the unfunded portfolio, $X.X third million September of for didn't total ended for the During of we X -- million compared provision months XX the we that any our of compared level $X.X negative before, period expense for ended provision of and to the the million outstanding on has were of that.
this X September ended the for in company's of XX.X% third Income the And the XX% year. bit. tax 'XX the and tax last XXXX. end the the of months Total effective XX, $XX,XXX in and due total reduced effective near net at were to allowance months the net or tax loans, loans tax-exempt a and was the September for investments ended XX, were X utilization X our to 'XX, compared effective which the in These credit a of months quarter That of charge-offs statutory September the XX.X% rates period credits and rate was rate percentage taxes ended year $XXX,XXX investment certain losses for of XX, charge-offs of quarter and below as federal 'XX, X.XX%. primarily 'XX. rate
tax earnings to of by level both tax We of bit evolve and about The then and be company income. overall periods, XX.X% rate, combined it be expenses. do these also, in state a this exempt those time. expects affected effective future by utilization the state will they and will And tax the and continually XX.X% tax is affected estimate credits over and federal
so affect And well state of tax effective authority we those overall rate expenses. through look as those the can various as taxing some
to queue please, concludes attendees this our that And in entertain at how And that have we'll of questions. the once operator, I'll ask we questions. the So remind time, prepared remarks today. to again for
