- Adjusted operating earnings were $135.1 million or $0.95 per common share, with an adjusted operating return on tangible common equity of 23.8% and adjusted operating return on assets of 1.46%.
- Adjusted operating noninterest expense increased $58.6 million to $182.4 million from Q1, mainly due to acquisition-related increases.
- Adjusted operating noninterest income increased $22.2 million from Q1, driven by acquisition impacts and increases in fiduciary fees, service charges, interchange fees, and mortgage banking income.
- Allowance for credit losses increased to $342.4 million, or 125 basis points of loans, primarily due to acquisition-related reserves.
- Atlantic Union Bankshares reported second quarter 2025 net income available to common shareholders of $16.8 million and earnings per common share of $0.12.
- CET1 capital ratio was 9.8%, with regulatory capital ratios comfortably above well-capitalized levels.
- Loan balances increased by $8.9 billion to $27.3 billion, driven by Sandy Spring acquisition.
- Loan-to-deposit ratio was approximately 88% at quarter-end.
- Net charge-offs decreased to $666,000 or 1 basis point annualized in Q2, down from 5 basis points in Q1.
- Noninterest income increased $52.3 million to $81.5 million, including gains on sale of $2 billion CRE loans and equity interest in Cary Street Partners.
- Reported noninterest expense increased $145.5 million to $279.7 million, primarily due to merger-related costs and full quarter impact of Sandy Spring acquisition.
- Tax equivalent net interest income increased by $137.8 million from Q1, driven by Sandy Spring acquisition and organic loan growth.
- The adjusted operating efficiency ratio was 48.3% in Q2 2025.
- The reported full tax equivalent net interest margin expanded by 38 basis points to 3.83%, with core net interest margin improving by 8 basis points.
- Total deposits increased by $10.5 billion to $31 billion, primarily from Sandy Spring acquired deposits.
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- AXIS delivered an annualized operating return on equity of 19% in Q2 2025, with record diluted book value per common share of $70.34, up 18.6% year-over-year.
- Catastrophe losses were $37 million, primarily from severe convective storms in the U.S., with a cat loss ratio of 2.6%.
- G&A ratio was 11.6%, slightly up from 11.4% a year ago due to severance and IT investments.
- Insurance segment gross premiums written were $1.9 billion, a 7% increase year-over-year, with an overall combined ratio of 85.3%.
- Investment income was strong at $187 million, benefiting from FX and a market yield of 5% above the 4.6% book yield.
- Net income available to common shareholders was $216 million or $2.72 per diluted common share; operating income was $261 million or $3.29 per diluted common share.
- Operating earnings per share reached an all-time high of $3.29, a 12% increase over the prior year quarter.
- Record second quarter premiums totaled $2.5 billion, including $732 million in new business, with a combined ratio of 88.9%.
- Reinsurance segment gross premiums were down 6.8%, with a combined ratio of 92% and underwriting income of $38 million.
- Reserve releases totaled $20 million from short-tail lines, split between insurance and reinsurance.
- Administrative expenses were $86 million, up 5% from prior year, representing 7.1% of premium.
- Book value per share as of June 30 is $66.07 (GAAP) and $90.26 excluding AOCI, up 10% from a year ago.
- Excess investment income was $35 million, down $8 million from a year ago; net investment income was $282 million, down 1%.
- Health insurance premium revenue grew 8% to $378 million; health underwriting margin was down 2% to $98 million due to higher obligations at United American.
- Invested assets totaled $21.5 billion, with $18.9 billion in fixed maturities, mostly investment grade rated A-.
- Life Insurance premium revenue increased 3% to $840 million; life underwriting margin was $340 million, up 6%.
- Net income for the second quarter was $253 million or $3.05 per share compared to $258 million or $2.83 per share a year ago.
- Net operating income was $271 million or $3.27 per share, a 10% increase over $2.97 per share from a year ago.
- Return on equity through June 30 is 18.8% on a GAAP basis and 14.4% excluding accumulated other comprehensive income (AOCI).
- The fixed maturity portfolio has a net unrealized loss of approximately $1.6 billion due to higher market rates but is not a concern due to intent to hold to maturity.
- Adjusted EPS increased 166% year over year to $1.15 per share in Q3 2025.
- Adjusted net revenue was $2.2 billion, up 3% year over year; 9% growth excluding credit card sale.
- CET1 ratio stood at 10.1%, representing $4.5 billion excess capital above regulatory minimum.
- Core ROTCE was 15% headline, approximately 12% excluding AOCI impact.
- Net interest margin (NIM) excluding core OID expanded 10 basis points quarter over quarter to 3.55%.
- Noninterest expense was $1.2 billion, slightly up year over year but down sequentially by $22 million.
- Provision expense declined 36% year over year to $415 million, driven by credit normalization.
- Retail auto net charge-off rate improved 36 basis points year over year to 1.88%, despite a 13 basis point sequential increase due to seasonality.
- In Q2 2025, American Assets Trust reported FFO per diluted share of $0.52, slightly above expectations, with same-store cash NOI approximately flat for the quarter and up 1.4% year-to-date.
- Liquidity at quarter-end was approximately $544 million, including $144 million cash and $400 million available on revolving credit line.
- Mixed-use Waikiki Beach Walk NOI declined 5% year-over-year, with hotel component down approximately 15% due to lower occupancy and RevPAR amid softness in leisure demand.
- Multifamily portfolio was approximately 94% leased, with blended rent increases of 6%, though facing competitive leasing environment and elevated operating costs.
- Net debt-to-EBITDA ratio was 6.3x trailing 12 months and 6.6x quarter annualized; interest coverage ratio about 3.1x.
- Net income attributable to common stockholders per share was $0.09 in Q2 2025.
- Office portfolio ended Q2 82% leased, with same-store office cash NOI flat for the quarter and up over 2% year-to-date.
- Retail portfolio was 98% leased with same-store cash NOI growth of 4.5%, driven by new and renewal leases and rent escalations.
- Same-store multifamily NOI declined 3.9%, and same-store mixed-use NOI declined approximately 5%, primarily due to hotel performance.
- Alternative investment income was $60 million below expectations due to lower private equity and real estate returns and a $50 million unfavorable impact from the annual assumption update process.
- Capital position remains strong with cash and liquid assets at $3.9 billion, above the $3 billion minimum liquidity target.
- Group insurance had one of its best earnings quarters recently with strong underwriting results and a benefit ratio improved to 80.9%.
- Individual Life sales grew 10% year-over-year with improved earnings results.
- Institutional Retirement delivered $9 billion in sales, including robust Longevity Risk Transfer transactions.
- International businesses sales were up 4%, driven by retirement and savings products in Japan despite surrender headwinds.
- PGIM's assets under management increased by 8% to $1.4 trillion, with total net flows of $400 million including $2.6 billion institutional inflows and $2.8 billion retail outflows.
- Pretax adjusted operating income was $1.7 billion or $3.58 per share, up 9% from the prior year quarter.
- Year-to-date return on equity was over 14%.
- Aflac Japan saw a 23.2% year-over-year sales increase, driven by a 53% increase in cancer insurance sales, particularly from the Miraito product.
- Aflac reported adjusted earnings per diluted share of $1.78 for Q2 2025, a 2.7% decrease year-over-year, with a $0.04 positive FX impact.
- Aflac U.S. net earned premium increased 3.4%, with premium persistency rising to 79.2%.
- Capital deployment included $829 million in share repurchases and $312 million in dividends, totaling $1.1 billion returned to shareholders.
- Expense ratios improved in both Japan and U.S., with Japan's expense ratio at 20.6% and U.S. at 36.3%.
- Japan's total benefit ratio improved by 40 basis points to 66.5%, and persistency increased to 93.7%.
- Net earned premiums declined 4.8% in Japan but underlying earned premiums declined only 1.1%, indicating improving long-term premium trends.
- Net earnings per diluted share were $1.11, reflecting solid results for the quarter and a strong first half of the year.
- Strong capital ratios were maintained with SMR above 900%, regulatory ESR above 240%, and combined RBC greater than 600%.
- U.S. total benefit ratio was 47.3%, slightly higher by 60 basis points due to business mix, with a pretax margin of 22.5%.
- Average total deposits increased 6% year-over-year and 1% quarter-over-quarter to $7.6 billion.
- Commercial real estate concentration decreased to under 500% for the first time since Q3 2023.
- Criticized and classified loans to total loans improved to 108 basis points from 133 basis points prior quarter.
- GAAP and core net interest margin expanded 3 basis points quarter-over-quarter, with GAAP NIM at 2.54% and core NIM at 2.52%.
- GAAP earnings per share of $0.41 and core earnings per share of $0.32, increases of 128% and 78% year-over-year respectively.
- Net charge-offs totaled 15 basis points for the quarter, down from 27 basis points in the prior quarter.
- Noninterest-bearing deposits grew 6% year-over-year and 2% quarter-over-quarter to $875 million.
- Nonperforming assets stable at 70 to 75 basis points quarter-over-quarter.
- Pre-provision pretax net revenue of $23.1 million and core PPNR of $19 million reached highest levels since late 2022.
- Strong liquidity with $3.6 billion of undrawn lines and resources at quarter end.
- Tangible common equity grew by 25 basis points to 8.04%.
- Consumer banking net income grew 28% to $3.4 billion with 600 basis points of operating leverage.
- Earnings per share (EPS) increased 31% year over year to $1.06.
- Investment banking fees exceeded $2 billion, up 43% year over year.
- Net interest income (NII) on a fully taxable equivalent (FTE) basis hit a record $15.4 billion, up 9% year over year.
- Operating leverage of 560 basis points achieved, with efficiency ratio falling below 62%.
- Reported revenue of $28 billion, up 11% year over year.
- Return on assets reached 98 basis points.
- Return on tangible common equity (ROTC) improved to 15.4%.
Dafinchi