- Adjusted EBITDA from continuing operations was a loss of $5 million, down from a sub $1 million loss in Q2 2024, impacted by increased intangible amortization and interest expense related to the Beat acquisition.
- Ambac reported a net loss from continuing operations of $21 million or $0.45 per share in Q2 2025, compared to a loss of $15 million or $0.33 per share in Q2 2024.
- Everspan's net earned premiums declined 41% to $16 million, but loss ratio improved to 67.8% from 85.1%, and adjusted EBITDA improved by $1.7 million to $0.7 million.
- Insurance Distribution revenues rose 148% to $33 million, with adjusted EBITDA on an operating basis of $5 million at a 13.9% margin.
- Total revenues increased 8% to $55 million, driven by Insurance Distribution segment growth, while Everspan premiums declined due to underwriting repositioning.
Explore Similar Insights
- Asset quality improved with decreases in nonaccrual loans, criticized loans, and past due loans.
- Deposits remained flat, partly due to efforts to control deposit costs.
- Loan growth was approximately 7% on an annualized basis in Q2, with early indications of increased loan demand in July.
- Loan loss reserves are deemed sufficient to cover any exposures.
- Net interest margin improved to 3.85% from 3.75% last quarter.
- Preferred Bank reported a second quarter net income of $32.8 million or $2.52 per share, showing reasonable improvement from the previous quarter.
- The bank repurchased $56 million of stock this quarter, which slightly impacted net interest income, PPNR, and net interest margin.
- 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).
- Adjusted return on assets was 1.31% and pre-provision ROAA was 1.72%.
- Deposits grew by $73 million net of broker deposits, with core deposits up nearly $800 million year-over-year.
- Loan growth was 4% annualized or $110 million, with contributions from nearly all business areas and geographic markets.
- Net interest income increased by $5.2 million quarter-over-quarter, with net interest margin expanding 6 basis points to 4.21%.
- Noninterest expense increased by $5.9 million due to merit increases, deposit costs, acquisition costs, and loan workout expenses.
- Noninterest income increased by $2.1 million from the prior quarter, driven by bank-owned life insurance and community development income.
- Nonperforming assets decreased slightly; net charge-offs were negligible aided by a $3 million recovery on a previously charged-off loan.
- Tangible book value per common share increased to $40.02, an annualized quarterly increase of 15%.
- Tangible common equity to tangible assets ratio was 9.42%, with a return on tangible common equity of 13.96%.
- The company earned $1.36 per diluted share in Q2 2025, up from $1.31 in the prior quarter and $1.19 year-over-year.
- Adjusted efficiency ratio improved by 90 basis points to 56.7%.
- Adjusted net income from continuing operations increased to $137.5 million or $0.73 per share.
- Adjusted noninterest expense increased $11.7 million, mainly due to First Chatham acquisition, business growth, and legal costs.
- Adjusted noninterest revenue increased $13 million or 15%, driven by mortgage originations, MSR valuation, wealth management, and other fees.
- Adjusted ROA was 1.14% for the quarter.
- Allowance for credit loss coverage remained flat at 1.34%.
- Core customer deposits increased at a 4.4% annualized rate, with growth mainly in noninterest-bearing deposits.
- Loan yields were 6.34%, up 1 basis point from the first quarter; new and renewed loans came in at just over 7%.
- Net charge-offs were $21 million or 24 basis points annualized, consistent with expectations.
- Net charge-offs were 24 basis points annualized for the quarter, down slightly from the first quarter.
- Net interest margin declined 6 basis points to 3.40%, but excluding securities impact, NIM increased 2 basis points.
- Net interest revenue increased $15 million or 4%, driven by loan growth and added securities.
- Organic loan growth was $1.1 billion for the quarter or 12.6% annualized.
- Pretax pre-provision net revenue increased to an all-time high of $206 million, up over 8% from the prior quarter.
- Regulatory capital levels remained strong with CET1 of 12.2%.
- Tangible book value increased to $22.94 per share.
- Total adjusted revenue was $476 million, an increase of $28 million or 6%.
- Total cost of deposits improved by 5 basis points to 2.30%; time deposit costs improved by 12 basis points.
- Asset quality remained stable with criticized loans declining $118 million, though other real estate owned increased by $167 million due to repossession of office properties.
- Capital ratios remained strong with CET1 at 11.2% and adjusted capital ratio at 11%, above peer median.
- Efficiency ratio improved to 52% from 56% in Q1, reflecting positive operating leverage.
- Net interest income grew 7.2% quarter-over-quarter to nearly $700 million, with net interest margin rising 6 basis points to 3.53%.
- Noninterest expense rose 3% to $515 million, mainly due to seasonal deposit cost increases.
- Noninterest income increased 16.4% to $148 million, driven by mortgage banking revenue of approximately $78 million.
- Provision expense was $40 million, reflecting organic loan growth and net charge-offs of approximately $30 million.
- Tangible book value per share increased 15% year-over-year to $55.87, with return on average tangible common equity at 14.9% and return on average assets at 1.1%.
- Western Alliance delivered strong Q2 2025 results, exceeding expectations with over $1 billion sequential loan growth and nearly $2 billion deposit growth.
Dafinchi