- Core capital increased by $35 million to $1.6 billion, exceeding statutory requirements by 63%.
- Core return on equity was 17%, with an efficiency ratio maintained below the strategic target of 30%.
- Credit provision was $7.8 million, including a $2.8 million charge-off on two loans, partially offset by a $1.7 million recovery.
- Farmer Mac achieved record core earnings of $47.4 million in Q2 2025, a 19% year-over-year increase.
- Net effective spread grew over 12% year-over-year, reaching a record $93.9 million.
- Total outstanding business volume surpassed $30 billion for the first time, ending at $30.6 billion.
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- Banner called and repaid $100 million of subordinated notes, reducing funding costs.
- Banner Corporation reported a net profit available to common shareholders of $45.5 million or $1.31 per diluted share for Q2 2025, up from $1.15 per share in Q2 2024 and $1.30 in Q1 2025.
- Core earnings (pretax pre-provision excluding certain items) were $62 million in Q2 2025, compared to $52 million in Q2 2024.
- Loan losses were $1.7 million with recoveries of $600,000; net provision for credit losses was $4.8 million.
- Loans increased 5% year-over-year and 9% annualized in the quarter; core deposits increased 4% year-over-year and represented 89% of total deposits.
- Net interest income increased $3.3 million from prior quarter; net interest margin remained steady at 3.92%.
- Noninterest expense was stable with some increases offset by higher capitalized loan origination costs.
- Noninterest income decreased $1.4 million due to losses on asset disposals and fair value adjustments.
- Return on average assets was 1.13% for Q2 2025.
- Revenue from core operations was $163 million in Q2 2025 versus $150 million in Q2 2024.
- Strong capital ratios and tangible common equity per share increased 13% year-over-year.
- Book value per share increased quarter-over-quarter to $13.49.
- Combined cash and unencumbered assets increased to about $920 million, more than 50% of total equity.
- Ellington Financial reported GAAP net income of $0.45 per share and adjusted distributable earnings (ADE) of $0.47 per share in Q2 2025.
- Leverage ratios remained stable with recourse debt-to-equity at 1.7:1 and overall debt-to-equity at 8.7:1 including securitizations.
- Longbridge segment contributed $0.13 per share to ADE, driven by strong origination volumes, securitization gains, and servicing income.
- Net interest margin (NIM) on the credit portfolio increased by 21 basis points, while the NIM on Agency decreased by 17 basis points.
- Portfolio size remained roughly unchanged quarter-over-quarter with growth in mortgage loan portfolios offset by securitizations and tactical sales.
- The company achieved an annualized economic return of nearly 14% and a total economic return of 3.3% for the quarter (non-annualized).
- First-half revenues reached $672 million, up 39% from the prior year period, driven primarily by growth in M&A and capital markets.
- Moelis & Company reported $365 million in revenues for Q2 2025, a 38% increase year-over-year and the highest second quarter revenues on record.
- Non-compensation expense ratio for Q2 was 14.4%, with an expected full-year growth of approximately 15% compared to the prior year.
- The Board declared a regular quarterly dividend of $0.65 per share, unchanged from the prior period.
- The corporate tax rate was accrued at 29.5%, consistent with Q1's underlying tax rate prior to a discrete tax benefit.
- The firm maintains a strong balance sheet with $475 million in cash and liquid investments and no debt.
- The second-quarter compensation expense ratio was accrued at 69%, consistent with the previous quarter.
- Commission revenue increased 12% to a record $192 million driven by strong market volumes and new initiatives across three strategic channels.
- Diluted earnings per share increased 11% to $1.91, or 16% excluding notable items.
- Free cash flow over the trailing 12 months increased 5% to $360 million, with $80 million spent on share repurchases year-to-date.
- MarketAxess delivered record second quarter 2025 financial results with 11% revenue growth to $219 million, including a 2 million USD benefit from foreign currency fluctuations.
- Operating expenses increased 6% excluding notable items, driven by higher employee compensation and technology costs.
- AFFO for Q2 2025 was $1.3 million or $0.03 per share, up from the prior year, positively impacted by lower interest expense and increased loan program activity.
- AFFO for the six months was $3.6 million or $0.08 per share, higher than 2024, helped by lower interest expense, higher interest income, and proceeds from a solar lease arrangement.
- For Q2 2025, net income was $7.8 million or $0.15 per share, higher than Q2 2024 due to gains on dispositions of 32 properties, lower G&A costs, lower interest expenses, and higher interest income.
- For the six months ended June 30, 2025, net income was $9.9 million or $0.18 per share, higher than 2024 due to 34 property dispositions, debt reductions, lower G&A, and increased interest income.
- Gain on disposition of assets was $25 million on $81.6 million of property sales in 2025, compared to a loss of $0.1 million in 2024.
- General and administrative expenses decreased primarily due to a one-time severance expense in 2024.
- Interest expense decreased by $2.8 million in Q2 and $5.2 million year-to-date due to debt reductions since October 2024.
- Lines of credit were repaid in full with $23 million payments in early July 2025.
- Undrawn capacity on lines of credit was approximately $160 million as of June 30, 2025, with no debt subject to interest rate resets in 2025.
- Adjusted Funds From Operations (AFFO) was negative $3.4 million or $0.10 per share, down from a positive $3.7 million or $0.10 per share in Q2 2024.
- Core operating expenses decreased by about $200,000, with lower G&A costs partially offset by higher property operating expenses related to water rights protection and vacant farms.
- Dividends declared per common share remained steady at $0.14.
- Fixed base cash rents declined by approximately $6.8 million year-over-year due to lease modifications, vacancies, and farm sales.
- Gladstone Land reported a net loss of $7.9 million and a net loss to common shareholders of $13.9 million or $0.38 per share for Q2 2025.
- Interest expense decreased due to loan repayments over the past year.
- Liquidity remains strong with over $150 million in available capital and nearly $170 million in unpledged properties for additional collateral.
- Core earnings improved meaningfully in the quarter, supported by loan growth and efficiency.
- Insurance division pretax income was flat quarter-over-quarter, with increased marketing expenses to drive future growth.
- Loan growth was strong at a 15% annualized rate in Q2, slightly below Q1 levels.
- Loans held for investment increased by $72.3 million; deposits decreased $66 million seasonally but are up $75 million year-over-year.
- Net income increased by $1.4 million quarter-over-quarter, driven by higher net interest income and lower provision expense.
- Net interest income increased approximately $1.4 million quarter-over-quarter with cost of funds down 3 basis points to 2.04%.
- Net interest margin expanded to 3.12%, benefiting from pricing discipline and a stable core deposit base.
- Noninterest expenses increased $1.8 million due to variable compensation and higher data processing costs.
- Noninterest income increased over $1 million, led by gains in mortgage, SBSL, and service charge revenue.
- Provision expense totaled $450,000; net charge-offs were $1 million, mostly in the SBSL division.
- Return on assets (ROA) improved to 1.02%, achieving the 1% target a quarter earlier than projected.
- Assets under custody and administration (AUCA) grew 13% year over year to $55.8 trillion, while assets under management (AUM) increased 3% to $2.1 trillion.
- Capital ratios remained strong with CET1 at 11.5% and Tier 1 leverage ratio at 6.1%, and the company returned $1.2 billion in capital to shareholders in Q2.
- Operating expenses increased 4% year over year, resulting in significant positive operating leverage of roughly 500 basis points.
- Pretax margin improved to 37%, and return on tangible common equity (ROTCE) rose to 28%, reflecting the success of the company’s multiyear transformation.
- Segment highlights included Security Services revenue up 10%, Markets and Wealth Services revenue up 13%, and Investment and Wealth Management revenue down 2%.
- The Bank of New York Mellon Corporation delivered strong Q2 2025 results with earnings per share of $1.93, up 27% year over year on a reported basis and 28% excluding notable items.
- Total revenue exceeded $5 billion for the first time in a quarter, up 9% year over year, driven by fee revenue growth of 7% and net interest income up 17%.
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