The portion of nonaccrual loans guaranteed by government agencies totaled $2.2 million at both June 30, 2024 and March 31, 2024, compared to $801,000 at June 30, 2023. There were no loans 90 days or more past due and still accruing and in the process of collection at June 30, 2024, March 31, 2024, and June 30, 2023. Accruing loans past due between 30 and 89 days at June 30, 2024, were $1.5 million, compared to $2.6 million at March 31, 2024, and $1.6 million at June 30, 2023. The decrease in accruing loans past due between 30-89 days at June 30, 2024 compared to March 31, 2024, was primarily due to timing of borrower payments. There was minimal change in the total accruing loans past due between 30-89 days at June 30, 2024 compared to June 30, 2023.
At June 30, 2024, the Company’s allowance for credit losses for loans was $19.0 million, or 1.02% of total loans, compared to $18.9 million, or 1.00% of total loans, at March 31, 2024 and $19.1 million, or 0.95% of total loans, at June 30, 2023. We recorded net charge-offs of $76,000 for the second quarter of 2024, compared to net charge-offs of $3.4 million in the prior quarter of 2024 and net charge-offs of $60,000 in the second quarter of 2023. The decrease in net charge-offs during the second quarter of 2024 compared to the prior quarter of 2024 was primarily due to one charge-off of $160,000 and one recovery of $97,000 during the current quarter, compared to partial charge-offs of two non-accrual loans totaling $2.9 million, as well as complete write-offs of five non-accrual loans totaling $435,000 during the first quarter of 2024. These actions were taken due to collateral shortfalls deemed uncollectable. There was minimal change in net charge-offs as compared to the second quarter of 2023.
As of June 30, 2024, acquired loans net of their discount totaled $186.3 million with a remaining net discount on these loans of $540,000, compared to $200.4 million of acquired loans with a remaining net discount of $392,000 at March 31, 2024, and $234.7 million of acquired loans with a remaining net discount of $331,000 at June 30, 2023. The change in the net discount from March 31, 2024, was due to the payoff during the current quarter of loans acquired at a premium. 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 $2.2 billion at June 30, 2024, compared to $2.1 billion at both March 31, 2024 and June 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 June 30, 2024, noninterest-bearing deposits totaled $618.6 million, or 28.4% of total deposits, compared to $630.0 million, or 29.4% of total deposits, at March 31, 2024, and $664.1 million, or 30.9% of total deposits, at June 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 June 30, 2024 and March 31, 2024, our average deposit account size (excluding public funds), calculated by dividing period-end deposits by the population of accounts with balances, was approximately $59,000 and $58,100, 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 June 30, 2024, March 31, 2024 or June 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 June 30, 2024. There were no amounts outstanding under these lines at June 30, 2024, March 31, 2024 or June 30, 2023. During the first quarter of 2024, the Bank was approved for discount window advances with the FRB of San Francisco secured by certain loan types. At both June 30, 2024 and March 31, 2024, the Bank had no FRB of San Francisco advances outstanding.
At June 30, 2024 and March 31, 2024, the Company had outstanding junior subordinated debt, net of fair value adjustments, related to junior subordinated deferrable interest debentures assumed in connection with its previous acquisitions totaling $8.6 million, compared to $8.5 million at June 30, 2023. At June 30, 2024, the Company had outstanding subordinated debt, net of costs to issue, totaling $63.7 million, compared to $63.6 million and $63.8 million at March 31, 2024 and June 30, 2023, respectively.
At June 30, 2024, March 31, 2024 and June 30, 2023, the Company had no other borrowings outstanding.