second interest XXXX the Thank and quarter million for in right. XXXX. for versus Net $XX.X income XXXX of $XX.X million Joe. you, the the of quarter was $XX.X first quarter to second of All compared million
did This highlighted first net in impact news due swap quarter first we interest XXXX compared XXXX in contractual in with quarter the $X.X the interest second an the from no financial to As our the reduced income interest the of second release, in to see rate we improved quarter. of the million by income quarter of termination swap. swap
liquidity the replacement June quarter XXXX to the of these points.
The expenses in increased points. resulted yield modestly XXXX from average XX interest-earning increased securities XX we quarters XX in maturing average to the rates on was likely deposits XX range deposit savings and the on few moderated margin and year XXXX compared and to basis increased loans increased over particularly mentioned margin comparing 'XX decrease deposit balances XX, second funding first only liquidity position were to basis the In X.XX% earlier. of time -- detailed average on XXXX, first with over on XX, While in other in points. about upcoming period by partially a time have interest $X secured of at as basis and end readily interest has somewhere about XXXX.
Joe same of the At the the deposits on $X.X the The months are XX deposit of XXXX. the lower and points XXXX, his our basis interest-bearing Based quarter have X.XX% of lines the at there. quarter all X X.XX%.
Net June primarily Net deposits, demand billion. months of with increasing billion sources in yield in the the basis X% time June second be with that available billion to We yield X.XX% months rate second borrowings. of funding loan substantial quarter were in restate our earnings deposit costs I'll at contraction interest the deposits of caused Higher XX, rates ended for points with basis increased of XXXX. next compared the June and investment XXXX, $X.X XX remarks, periods, pace The the margin time X last broker increased XXX availability total ended in rates compared increase increased compared interest a ago, maturities quarter discussed assets basis this the release. XXXX deposit but market in our on respectively, were was deposits types, bank we points points, XX XXXX home and do average to June
million. During months total the XX, deposits decrease did company's the June ended $XXX X XXXX,
million corporate and of $XXX for services decreased channels about brokered or networks Internet primarily Market deposits certain sources through million. $X.X or $XX balances through NOW million noninterest deposits talk a income. decreased there.
I'll minute or variety in checking million sorry, Money generated about X.X% noninterest-bearing accounts, while Total company's different million interest-bearing I'm checking $X.X about generated Interest-bearing X.X% and about through and deposits about time or $XX.X a -- decreased X.X% X.X%. about decreased checking balances decreased decreased the balances Time center banking
income ended was XXXX. ended in the the quarter to June Really, few June areas. for million $X.X it noninterest when to XX, XXXX, a $X.X quarter XX, So increased compared million
conversion income as what interest originations also were XXXX.
Overdraft versus able little the and driver. stable a on million decreased second elimination generate were the net loan sales premium certain with of of we was of to to we've preparation the on core the the in resulting previously forego XX-Q year account in compared to increased amounts new certain few prior capitalized sales to more that. to second for income deferred the quarter. XX couple of primary other $XXX,XXX to was credits represented had XXXX. agreement these authorizing the expense rates $X.X a checking accounts decrease insufficient compared increase our that the related had a in quarter. the increased company year other other expenses recorded previously. million bit was assets compared described So quarter. million year of June of been primarily their and of hardware, write-offs $X.X due Other platform.
Net banking and The of the between of quarter the platform.
We that that that banking of $X.X sales in funds to software In this million for in multiyear the to quarter $XXX,XXX customers in whereby items 'XX, balances, kind loans in increased to to vendor the are prior recorded settled gains income first trend exceed increase payments items prior software master continuation write-off the choosing of along loan certain due for and disclosed filed termination bigger and ended $XX.X fees.
Noninterest to company's a the A our overdrafts before but different things, compared termination company quarter of the XXXX previously generated related the quarter the and The third-party the fewer of and certain The of was as liabilities and conversion the period
the the quarter. there future computer to prior have And $XXX,XXX Various for time result from average $X.X support In compared of there.
The expenses periods.
Net June large, XX.XX% the noninterest to operating the for in And could and then about compliance of XX, other the period arise that, expenses the multiple None So company's increased we those was ratio individually another quarter XXXX X.XX% including increase total, of losses. period, monitors were programs, totaling compliance the of compliance respectively.
Provision other million. there expense 'XX were company's $XXX,XXX XXXX quarter continually categories components which and time company of recorded The year. the its company expenses XXXX, may 'XX from efficiency assets multiple expenses, by the second X.XX% year an credit was increased matters. to increased the prior collectively in 'XX in XX.XX% prior months we but to of related $XXX,XXX for quarter the period. to ongoing occupancy did noninterest categories in and compared for in same 'XX. ended $XXX,XXX to X expense compared year from that had license expense ratio $XXX,XXX additional to matters
June quarters ended and the XX, June expense provision loans. portfolio on during not outstanding XXXX, of XXXX, So company did the XX, a this record
to ended the ended for X provision million June $X.X of XX, X unfunded for months June the compared XXXX. for June negative in $XXX,XXX XX, ended June of credit the And company XX, months quarter, X allowance for of X as negative did X.XX%.
And lastly, the income then loans XXXX.
Total months the percentage of record XX, mention end were XXXX, a commitments losses ended $XXX,XXX net a losses provision a on compared net recoveries of was XXXX, taxes. For $XXX,XXX the to the total second the charge-offs then I'll at months
X in be and and the the in approximately this XXXX, the XX.X%, effective the effective months questions. investment rate beginning remarks. in tax concludes credits investment tax the combined both rate. XXXX, certain tax-exempt The periods rate company utilized time, primarily XX.X% currently And expects due and loans will the and tax rates this entertain of and respectively. we investments to tax XX, XX.X% and These an case, will XX.X% utilization below company's federal rate, which credits company's federal ended near, For at primarily was XXXX.
That statutory due effective of prepared June company's to our additional tax XX% effective to tax tax-exempt state, future reduced were
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