ATB Financial’s loans, deposits and operating revenue all grew year-over-year, according to the company’s results for the second quarter of the fiscal year.

That growth contributed to $35.2 million in net income for the quarter ending September 30, 2016. So, while ATB’s net income is down 38.4% compared to the same quarter last year, it’s up more than $10 million from the previous quarter ending June 30, 2016.

Lower loan loss provisions played the biggest role in the recent increase in profit. During the second quarter, ATB recorded a loan loss provision of $78.5 millioncompared to $93.5 million in the previous quarter.

“Loan loss provisions are still having a major impact on ATB’s bottom line as low commodity prices continue to affect the Alberta economy,” says Dave Mowat, ATB’s President & CEO. “However, as prices begin to stabilize, there’s reason for cautious optimism.”

Compared to the same quarter a year ago, ATB’s loan portfolio grew by 3.7% to $40.5 billion, while deposits grew by 3.3% to $33.4 billion. ATB’s second quarter operating revenue of $372.7 million was about 1% more than what was generated in the same quarter a year ago.