thank Thank us Kate. you morning, you, everyone, today. Good and joining for
Our position. company in XXXX finished solid the first a very half of
income quarter second metrics. a and expansion continuation interest that performance credit of net quality Our was and modest highlighted growth by loan supported strong stable incremental
enhance our subsidiaries. to management steps advisory two took also investment merging We wealth business, our registered
sponsors existing under primarily business also net individuals and efforts, this our deepening to retirement footprint and clients. institutional better insurance high scale Courier development relationships compete worth additional plan our has Operating for streamlines one banking with size families. Through across wealth clients, and brand merger Capital and
company $XX $X.XX share $X.XX from year-over-year XXXX per prior or in quarter first or year net period. diluted the of recognized in common million the addition large talent in investments in from due up the assessment. or versus quarterly million per of in commercial a And share non-interest $XX.X available of and net million per the loss down and $X.XX provisioning quarter quarterly share, an $XX.X loan past higher second considering expenses shareholders quarter in normalization XXXX, was the income the income, and to Second increased FDIC to to impact of quarter recovery the a current insurance decrease
that quarter, in expenses capital in investment our spreads in were this would current of from coupled in and in with an both the offset announced XXXX. well organizational the place terms for in which by December restructuring much a believe positioned us tax our in in that increased These the in took human from service. near lower standpoint future, long-term. We outperformance previously placed partially expense markets term of completed investment taxes the I benefited note has
higher Jack provisions, high-quality players linked of We to a first the attracted our from was relative bank. community lower income expense of current net experienced growth income to more organization, our the in a of including in will joining quarter non-interest level lower income XXXX story performance to quarter. a our talent On basis, a a on by part who true quarter have with want driven his and statement color remarks. and income growth provide tax be individuals larger
the public Deposit Within sizable deposit X.X% billion, the $X deposits XX, payments cash or higher XXXX, customers. gathering the as are quarter million outflows. period. deposit municipalities portfolio, requirements primarily down due result tax to as were of funding inflows normal quarter total for second and flow a on June school we which of typically seasonal our a top during public seasonal March $XXX.X from a XX, in see first And districts, public Similarly, remains decrease includes from focus. based local and deposits state
in are the linked the injection is space of deposits, recognized deposits public seasonality quarter. from pandemic. this we driver the Non-public seeing increased during a deposit primary the post the While stimulus decline levels normalization in of
We of trends continue demand new deposits to accounts. rate deposit amid environment. cost acquisition disintermediation interest account lower see current higher cost And a and savings time similar into for the
a We some in come defending of high-cost rest to to for has We of we're our deposits week Competition expanding on deposit this our our deposits the to this new the accounts also deposits strong as campaign base become quarter, Banking larger an on anticipated or be than accounts just as affording $XXX,XXX. marketing for board. option benefit BaaS our FDIC focused during wholesale funding. Reciprocal alternative BaaS our and country attractive beginning to the consider money and reach. is of see similar launched customers the a and marketed on greater insurance markets Service deposits an grew are
reflecting up during at X.X% led XX, million increase were an quarter. commercial $X.X X.X% XX lending. was loans June, or portfolio second commercial $XXX.X March our Total billion Overall, the from by of
continue believe first of the that year. half concentrated full be We the will to year loan growth in
As we our capacity reserve aim with to full relationships. for balance customers best sheet
economic due challenging Commercial amid demand expected of and a particular a pricing. mortgage combination to growth slow in environment is higher to softer
overall on it year at of than commercial are is the less was notable modest even one XXXX pipeline ago. than more in change XXXX. June XX, our and what more size it of XXXX pipeline the prior year-end about of with half where was one-third June XX, it at pipelines Mid-Atlantic what our The XX% Our periods in was is
given in continued particular. to of in office bit facing the region media coverage challenges space detail discuss major metros Mid-Atlantic in our more national a I'd like
central the the business area. of Baltimore For Maryland for D.C. context, and throughout sits and loans this team majority customers of of Greater suburb Washington headquartered district are projects serves D.C. and of Virginia Baltimore a in around and The in and and properties outside primarily
class limited and committed none located in loans and space leasing $XX within Mid-Atlantic and million areas is our this hospitals commitments occupancy As plate of primarily asset of one-third D.C. near accounts credit just with in and floor properties at result, medical are of for our area Metro our D.C. a buildings. are exposure over the very itself within Office high just amount heavy traffic levels. region fair a for large
where As buildings many office smaller and the trends with return outside note the are non-federal office. would grapple I to of to workers industries relate metros that returning commitments workplace, to much our the located D.C. in
remains of loans commercial of health portfolio points strong The and charge-offs commercial during to reported net average second two quarter. basis our just we the
the to portfolio the loan months June ended environment inventory residential during interest our and rate sales homebuilders. and with housing XX, despite months home partnerships XXXX new market XX X impacting our due both Our primarily in higher grew tight
Additionally, have enhancements improved loans. internal led cycle to times process equity both home for and mortgages
this other we've margins to adjustments of in line loan categories, our pricing improve made with Consistent business.
leasing balances applications credit XXXX manufacturers. offers consumer were for on focus efforts given activity deals, lower in and in moderate XX, and increased direct down June end as part this aggressive rate and expected, our is as As to at XXXX. both due our March while loan of class, quarter quality XX, This number cash modestly well maintaining from to asset production
came of to the coupon indirect portfolio on of and weighted X.XX%. portfolio FICO average production our The score a XXX continues exceed average quarter new during
in managing experienced and portfolio indirect basis is were very is team where secure both possible. this to the the only points linked line charge-offs quarter ago down recoveries quarters. credit of year XX from for actively business Accordingly, Our second the
continues to risk credit management disciplined metrics support to Our approach overall. asset quality strong
to loans For the of charge-offs reported we points to and basis just total of annualized six net loans quarter, second XX average non-performing loans basis points.
the losses of the total overall basis for credit quarter remain in points requirement. loans $X.X loan was credit non-performing We XXX% at in the loans for the June ratios of on losses performance confident health portfolio volatile and second the and despite Provision our from operating million XX. loan allowance supporting XXX
the Plants and on over to for concludes my pleasure additional comments guidance XXXX. turn and my for it's This call introductory Jack details to to updates results now
