The parent company of Berkshire Bank continued to grow loans and deposits at a healthy clip during a time of deposit competition and spread compression.

The company reported second quarter net income of $34 million, or $0.74 earnings per share, compared to $20 million in the second quarter of 2017. Value to shareholders was strong, with the bank reporting a 56.4 percent efficiency ratio, 1.17 percent return on assets and return on equity of almost 9 percent.

While doing so, the bank continued to grow. Net interest income for the quarter was over $91 million, compared to about $70 million in the second quarter of 2017. The margin improved to 3.5 percent, the highest it has been in the last year.

“We achieved record quarterly return on assets, with income increasing by 35 percent over the prior quarter. Commercial loans grew strongly and our new Boston corporate headquarters teams are receiving good response to our expanded presence in Greater Boston,” Berkshire Bank CEO Michael Daly said in a statement. “Our revenue growth and disciplined expense management produced record quarterly earnings per share, positive operating leverage and improved returns on equity.”

Total deposits at the roughly $11.9 billion asset company were roughly $8.84 billion, up over $2 billion from one year ago, although that includes the purchase of Worcester-based Commerce Bank, which was completed at the end of 2017. Still, deposits grew more than $150 million from the linked quarter.

Total loans reached roughly $8.71 billion at the end of the quarter, up roughly $1.85 billion year-over-year and about $330 million from the linked quarter. All loan categories were up year-over-year, but while commercial and industrial and the residential loan books made nice gains from the linked quarter, commercial real estate loans declined slightly in volume.

Berkshire Bank President Richard Marotta said the pipeline remains strong for loans and is between $200 million and $250 million. He also said the bank is seeing strong activity in Eastern Massachusetts, Greater Boston and the Worcester areas.

The bank has also been experiencing good growth in its digital banking operations. As a result, Berkshire Bank COO Sean Gray said the company intends to consolidate six branches over the next six to 12 months.

The provision for loan losses in the quarter was about $6.5 million, up about $1.6 million from the second quarter of 2017. Total non-performing assets as a percentage of total assets at the end of the second quarter was .20 percent, the lowest that ratio has been in about a year.