Blue Foundry Bancorp reported a net loss of $2 million or $0.10 per diluted share for Q2 2025, an improvement of $735,000 from the prior quarter.
Cost of funds declined by 13 basis points to 2.72%, with deposit costs down 13 basis points to 2.62% and borrowings cost down 9 basis points to 3.30%.
Deposits increased by $29.1 million or 2%, with core deposits growing approximately 4%, fueled by full banking relationships with commercial customers.
Gross loans increased by $47.4 million during the quarter, with organic growth in owner-occupied commercial real estate and construction, plus $45 million in credit-enhanced consumer loan purchases.
Interest income rose by $725,000 primarily due to loan growth, while interest expense declined by $171,000 reflecting lower deposit costs.
Loan portfolio yield improved by 8 basis points to 4.80%, and total interest-earning assets yield increased by 7 basis points to 4.58%.
Net interest income increased by $896,000 or 8.3%, driven by a 12 basis point expansion in net interest margin and loan growth.
Noninterest expense decreased by $90,000 compared to prior quarter, mainly due to seasonal occupancy expense, and is expected to remain in the mid- to high $13 million range.
Nonperforming assets and loans increased slightly but remain low at 0.30% and 0.38% respectively, with allowance coverage ratios slightly decreased but still strong.
Provision for credit losses was $463,000, primarily for reserves on unfunded loan commitments scheduled to close in Q3.
B2B segment revenue grew nearly 40%, driven by a significant BaaS partner and growth in the BaaS portfolio.
Consumer Services segment revenue declined but active account declines moderated, with retail channel showing flat active accounts and slight increases in key metrics.
Corporate segment revenues increased due to higher interest income from balance sheet optimization and bond repositioning.
Green Dot reported a strong Q2 2025 with adjusted revenue up 24% year-over-year and adjusted EBITDA up 34%, both exceeding expectations.
Money Movement segment saw tax business outperform expectations with profits up over 10%, while money processing revenue declined modestly due to lower transaction volumes but improved revenue per transaction.
Non-GAAP EPS reached $0.40 per share, a 60% increase year-over-year.
Overall segment margins were flat year-over-year, with margin improvements in direct channel offsetting retail declines.
Rapid Employer Services revenue declined due to challenges in the staffing industry, but margin expanded by 45 basis points due to improved profitability.
Completed 555 full and partial upgrades in Q2, leased 381 upgraded units with an average rent premium of $73 and 26% ROI.
Core FFO for Q2 was $18 million or $0.71 per diluted share, up from $0.69 in Q2 2024.
Entered a new 5-year $100 million SOFR swap at 3.489% fixed rate.
Net loss for Q2 2025 was $7 million or $0.28 loss per diluted share on total revenue of $63.1 million, compared to net income of $10.6 million or $0.40 EPS on $64.2 million revenue in Q2 2024.
NOI was $38 million on 35 properties versus $38.9 million on 36 properties in Q2 2024.
Paid a Q2 dividend of $0.51 per share, a 147.6% increase since inception, with 1.39x core FFO coverage and 72.2% payout ratio.
Repurchased 223,109 shares for $7.6 million at an average price of $34.29 per share.
Same-store rent and occupancy decreased 1.3% and 0.8%, respectively, leading to a 1.1% decrease in same-store NOI compared to Q2 2024.
Since inception, 9,113 upgrades installed with average monthly rental increases of $165, $50, and $43 for full/partial upgrades, kitchen/laundry appliances, and tech packages respectively, with strong ROI.
Attritional combined ratio improved 2.3 points year-over-year to 90.9% in the first half, driven by improvements in loss ratio, acquisition costs, and operating expenses.
Core combined ratio improved by 3.8 points year-over-year to 89.5% in Q2, marking the 11th consecutive quarter of underwriting profit.
Gross written premiums grew 10% in Q2 and 14% year-to-date, with net premiums growing 8% in Q2 and 14% in the first half.
Half year underwriting income was $96 million with core combined ratio of 92.4%, showing slight improvement despite catastrophe losses.
Insurance & Services segment saw net premium growth of 15% in Q2, outpacing gross premium growth due to increased retention.
Net investment income was $68 million in Q2, tracking in line with full-year guidance of $265 million to $275 million.
Second quarter BSCR ratio was 223%, within target range, supporting organic growth opportunities.
SiriusPoint delivered strong Q2 2025 results with an underlying return on equity (ROE) of 17%, exceeding the target range of 12% to 15%.
Underlying earnings per share increased over 100% year-over-year to $0.66 in Q2; diluted book value per share grew 4% in Q2 and 10% year-to-date.
Year-to-date underlying ROE was 15.4%, at the upper end of the target range despite losses from aviation and California wildfires.
Adjusted EBITDA increased by 128% or $66 million in the second quarter and more than doubled to $356 million in the first half.
Adjusted EBITDA margin was 17% in the quarter and 23% year-to-date, an increase of nearly 500 basis points versus last year.
Benefits and Insurance segment revenue was $102 million, up approximately 5%, with adjusted EBITDA up 21% and margin improving by 260 basis points.
Financial Services segment revenue was $570 million, up approximately 84%, with adjusted EBITDA more than doubling to $111 million and margin improving by 250 basis points.
Second quarter adjusted diluted earnings per share increased by 64% to $0.95 per share, and first half adjusted diluted earnings per share increased by 47% to $3.26 per share.
Second quarter interest expense was higher by $22 million compared to last year, driven by higher outstanding debt associated with the acquisition.
Second quarter revenue was $684 million, and first half revenue was $1.5 billion, a 63% and 66% increase, respectively, largely driven by the Marcum acquisition.
Second quarter tax expense was $7 million higher than last year, with an effective tax rate lower by approximately 240 basis points compared to last year.
Consolidated operating income for Q2 2025 was $1.1 billion, up from $410 million in Q2 2024, driven largely by unrealized gains on the equity portfolio.
Expense ratio increased to 36.3% from 34.5% due to severance, professional fees, and controllable expense increases, with a commitment to reduce controllable expenses over time.
Favorable reserve development of 6 points was reported in the first half of 2025 despite reserve strengthening in runoff lines.
Gross written premiums in Markel Insurance were down 2% in Q2 2025 but net earned premiums were up 3%, reflecting underwriting actions to improve profitability.
Investments operating income rose to $822 million in Q2 2025 from $100 million a year ago, with a 5.4% return on the equity portfolio and $597 million in mark-to-market gains.
Markel Group shares have compounded at an annual growth rate of over 16% over the last 5 years.
Markel Insurance combined ratio was 96.9% in Q2 2025 versus 93.8% a year ago, impacted by adverse development in discontinued product lines and runoff businesses.
Markel Insurance operating income declined to $128 million in Q2 2025 from $177 million a year ago due to less favorable prior year loss development and a higher expense ratio.
Markel Ventures funded all capital expenditures internally and generated cash for share repurchases and other uses.
Markel Ventures revenues increased 7% to $1.55 billion in Q2 2025, with operating income up 17% to $208 million, driven by acquisitions and growth in construction services.
Net investment income was $228 million in Q2 2025, slightly up from $220 million in Q2 2024, with fixed income yields improving but moderated by lower short-term interest rates.
Dafinchi