Nonperforming loans, consisting solely of non-accrual loans, totaled $9.7 million, or 0.51% of total loans, at September 30, 2024, compared to $16.1 million, or 0.87% of total loans, at June 30, 2024, and $14.3 million, or 0.73% of total loans, at September 30, 2023. The decrease in nonperforming loans from the prior quarter-end was primarily due to sale of three non-accrual loans totaling $8.1 million, the pay-off of two non-accrual loans totaling $460,000, the complete charge-off of one non-accrual loan of $1.0 million and another totaling $88,000, and to a lesser extent paydowns on other non-accrual loans, partially offset by two new loans totaling $3.5 million being placed on non-accrual during the current quarter.
The portion of nonaccrual loans guaranteed by government agencies totaled $2.0 million at September 30, 2024, compared to $2.2 million and $801,000 at June 30, 2024 and September 30, 2023, respectively. There were no loans 90 days or more past due and still accruing and in the process of collection at September 30, 2024, June 30, 2024, and September 30, 2023. Accruing loans past due between 30 and 89 days at September 30, 2024, totaled $4.5 million, compared to $1.5 million at June 30, 2024 and $2.6 million at September 30, 2023. The $3.0 million increase in accruing loans past due between 30-89 days at September 30, 2024 compared to June 30, 2024, was primarily due to two commercial real estate loans totaling $2.9 million, which were less than 30 days past due at June 30, 2024.
At September 30, 2024, the Company’s allowance for credit losses for loans was $18.3 million, or 0.96% of total loans, compared to $19.0 million, or 1.02% of total loans, at June 30, 2024 and $19.8 million, or 1.01% of total loans, at September 30, 2023. We recorded net charge-offs of $1.5 million for the third quarter of 2024, compared to net charge-offs of $76,000 in the prior quarter of 2024 and net charge-offs of $25,000 in the third quarter of 2023. The increase in net charge-offs during the third quarter of 2024 compared to the prior quarter of 2024 was primarily due to a $1.0 million complete charge-off of one commercial non-accrual loan which was fully reserved for at June 30, 2024, a $480,000 charge-off related to a non-accrual loan sold during the quarter, and a complete write-down of one non-accrual loan for $88,000, partially offset by two recoveries totaling $50,000 during the current quarter, compared to one charge-off of $160,000 and one recovery of $97,000 during the previous quarter. These actions were taken due to collateral shortfalls deemed uncollectable. There was minimal charge-off activity during the third quarter of 2023.
As of September 30, 2024, acquired loans net of their discount totaled $176.7 million with a remaining net discount on these loans of $449,000, compared to $186.3 million of acquired loans with a remaining net discount of $540,000 at June 30, 2024, and $224.4 million of acquired loans with a remaining net discount of $419,000 at September 30, 2023. The change in the net discount from June 30, 2024, was due to payoff activity during the current quarter. The net discount includes a credit discount based on estimated losses on the acquired loans, partially offset by a premium, if any, based on market interest rates on the date of acquisition.
Deposits and Borrowings
Deposits totaled $2.1 billion at September 30, 2024, compared to $2.2 billion at both June 30, 2024 and September 30, 2023. The deposit mix shifted, in part, due to interest rate sensitive clients moving a portion of their non-operating deposit balances from lower costing deposits, including noninterest-bearing deposits, into higher costing money market and time deposits. At September 30, 2024, noninterest-bearing deposits totaled $618.3 million, or 28.9% of total deposits, compared to $618.6 million, or 28.4% of total deposits, at June 30, 2024, and $667.3 million, or 30.9% of total deposits, at September 30, 2023.
We consider our deposit base to be seasoned, stable and well-diversified, and we do not have any significant industry concentrations among our non-insured deposits. We also offer an insured cash sweep product (ICS) that allows customers to insure deposits above FDIC insurance limits. At September 30, 2024 and June 30, 2024, our average deposit account size (excluding public funds), calculated by dividing period-end deposits by the population of accounts with balances, was approximately $60,000 and $59,000, respectively.
The Bank has an approved secured borrowing facility with the FHLB of San Francisco for up to 25% of total assets for a term not to exceed five years under a blanket lien of certain types of loans, with no FHLB advances outstanding at September 30, 2024, June 30, 2024 or September 30, 2023. The Bank has Federal Funds lines with four corresponding banks with an aggregate available commitment on these lines of $65.0 million at September 30, 2024. There were no amounts outstanding under these lines at September 30, 2024, June 30, 2024 or September 30, 2023. During the first quarter of 2024, the Bank was approved for discount window advances with the FRB of San Francisco secured by
