Please turn to Page 3.
The Federal Reserve Bank cut rates 150 basis points in March, following the 75 basis points reduction in the second half of 2019.
We deployed a 100% digital client-friendly application and funds disbursement process for PPP loans.
Loan production in the second quarter totaled more than $500 million.
Customer deposits increased $760 million.
Our online loan deferral tool and call centers processed relief for more than 44,000 retail customers.
And we secured $100,000 in Federal Home Loan Bank of New York grants to support local non-profit and small businesses in Puerto Rico and the US Virgin Islands.
Please turn to Page 4.
Online bill enrollment -- bill pay enrollments were up 12% as of March and 24% as of June.
Mobile banking users jumped 17% by the end of the second quarter from the beginning of the first.
The number of remote deposit capture users are up 68% from the end of March.
In another area of success for us, during the second quarter, we scheduled more than 18,000 COVID safe appointments with our customers through our online and mobile tool.
Please turn to Page 5.
We generated a total of $286 million in new loans.
This enabled us to help more than 4,000 small businesses save more than 50,000 jobs.
Let's talk about our results on Page 6.
We reported earnings per share of $0.39, and $0.37 on a non-GAAP basis.
Total core revenues were $128 million.
As a result, we generated net interest income of $105 million with a net interest margin of 4.78%.
Banking and wealth management revenues totaled $23 million.
Non-interest expenses were $86 million, primarily due to the addition of the Scotiabank acquisition.
$9.5 million in revenues from Scotia Bank interest recoveries and bargain purchase gain.
We added $5 million in provision for the pandemic.
And within non-interest expenses, we had a $5 million in merger and restructuring charges and COVID-related operating costs.
Please turn to Page 7.
Please turn to Page 8 for operational highlights.
Average loan balances increased 52% year-over-year and 2% quarter-over-quarter.
Average core deposits, excluding brokered, increased 76% year-over-year and 5% quarter-over-quarter.
Loan yield at 6.97% continued to hold up well despite the recent Federal Reserve cuts.
The cost of core deposits declined 4% -- 4 basis points year-over-year.
Net interest margin declined to 4.78%.
Please turn to Page 9 to review credit quality.
Provision for credit losses of $18 million was level with last year.
I'd like to note the year-ago provision included an extra $9 million related to loans transferred to held for sale.
Please turn to Page 10 to review our loan deferrals.
Our online loan deferral tool and call centers processed relief for more than 44,000 retail customers.
In total, we have about $1.4 billion or 32% of our retail loans on deferral.
In addition, we have about $685 million or 26% of our commercial loans on deferral.
Please turn to Page 11.
The allowance for loan and lease losses of $233 million increased $70 million year-over-year.
Compared to March 31, 2020, the allowance increased $2 million.
Excluding SBA guaranteed PPP loans, second quarter 2020 allowance was 3.49% of loans, 8 basis points higher than the first quarter.
Please turn to Page 12.
Our CET capital ratio, as you see on that slide, of 12.03% is up 112 basis points since last year.
Please turn to Page 13.
We plan to continue integrating the former Scotiabank operations and finish by the end of this year.

Summary:
We reported earnings per share of $0.39, and $0.37 on a non-GAAP basis.
Compared to March 31, 2020, the allowance increased $2 million.
We plan to continue integrating the former Scotiabank operations and finish by the end of this year.