- Capital ratios remained stable with CET1 ratio slightly increasing from 9.03% to 9.08%.
- Core deposits grew 11.5% annualized in Q3 and 7.4% year to date, reflecting strong deposit momentum.
- Fee income declined in Q3 due to lumpiness in swap fees but is expected to rebound in Q4.
- Loan balances increased 6.6% annualized in Q3 and 12% annualized year to date, driven by multiple asset classes including affordable housing.
- Net charge-offs remained very low at 0.03% of loans, and non-performing assets held steady at 0.19% of total assets, indicating strong asset quality.
- Net interest income increased by $1.6 million in Q3, supported by loan growth and a 1 basis point net interest margin expansion to 2.63%.
- Noninterest expenses were elevated due to systems conversion and marketing efforts, with 17 new full-time employees added in Q3.
- Tangible book value per share increased 20% annualized in Q3 and 14% annualized year to date, demonstrating consistent shareholder value creation.
Explore Similar Insights
- Allowance for credit losses was 1.06% of loans; capital ratios remained strong with CET1 at 10.63% and total capital ratio at 14.39%.
- Deposits grew 1.7% driven by new commercial accounts and branch contributions; noninterest-bearing demand deposits rose over 7% year-over-year, representing 31.3% of total deposits.
- Efficiency ratio held steady at 55.7% despite a 3.9% increase in noninterest expenses, including higher salaries and advertising due to branch expansion.
- Net charge-offs were $11.4 million, including an $8.6 million charge-off on a syndicated commercial real estate loan; excluding this, charge-offs were 18 basis points annualized.
- Net income for Q2 2025 was $15.1 million or $0.50 per diluted share, down from $17.7 million and $0.58 in Q1, primarily due to increased credit loss expense.
- Net interest margin increased by 5 basis points to 3.07%, helped by lower funding costs and loan volume growth.
- Pre-provision net revenues grew 3.7% quarter-over-quarter to $57.1 million, driven by higher net interest income and noninterest income.
- Return on average assets was 0.79% and return on average equity was 7.8%.
- Total loans increased by 0.4% linked-quarter or 1.6% annualized to $6.31 billion, with growth in C&I and residential mortgage loans.
- Adjusted EBITDA for Q2 was $76.3 million, down 12.5% year-over-year, with an adjusted EBITDA margin of 35%, the second highest quarterly margin in company history despite a 90 basis point decrease from last year.
- Capital Markets Compliance and Communications Management segment net sales declined 17.8% to $93.5 million due to lower transactional revenue and print volume.
- Donnelley Financial Solutions reported second quarter 2025 net sales of $218.1 million, a 10.1% decrease from Q2 2024, driven by declines in Compliance and Communications Management segments and capital markets transactional revenue.
- Donnelley Financial Solutions reported second quarter 2025 total net sales of $218.1 million, a 10.1% decrease from Q2 2024, driven by declines in Compliance and Communications Management segments and capital markets transactional revenue.
- Free cash flow was $51.7 million, $14.9 million higher than Q2 2024, driven by favorable working capital and lower capital expenditures despite lower adjusted EBITDA.
- Free cash flow was $51.7 million, up $14.9 million year-over-year, driven by favorable working capital and lower capital expenditures despite lower adjusted EBITDA.
- Investment Companies Compliance and Communications Management segment net sales decreased 25.2% to $32.4 million, primarily due to lower print and distribution volume impacted by regulatory changes.
- Investment Company Software Solutions segment net sales increased 17% to $33.1 million, driven by Tailored Shareholder Report solution revenue.
- Non-GAAP net leverage ratio was 0.7x as of June 30, 2025, with total debt at $190.1 million and $77 million drawn on the revolver.
- Non-GAAP net leverage ratio was 0.7x with total debt at $190.1 million and $156.3 million non-GAAP net debt as of June 30, 2025.
- Print and distribution net sales declined by approximately $14 million or 26%, primarily due to lower proxy statement and annual report volumes and the impact of the Tailored Shareholder Reports regulation.
- Segment results showed Capital Markets Software Solutions net sales increased 3.1% to $59.1 million, led by ActiveDisclosure's 11% growth, while Venue revenue was nearly flat but down 1% year-over-year.
- Software solutions net sales grew approximately 8% year-over-year, including 15% growth in recurring compliance software offerings, making up 42.3% of total net sales, up 700 basis points from last year.
- The company repurchased approximately 787,000 shares for $34.3 million in Q2, with a new $150 million share repurchase authorization effective May 16, 2025.
- Old National’s tangible book value per share increased by 17% annualized over the last quarter.
- The company’s return on tangible common equity was 20%, with a ROA of 1.3%, both among the top decile of peers.
- Profitability was driven by margin expansion, fee income growth, and well-controlled expenses.
- Management highlighted that core EPS has grown 7.6% CAGR since 2018, with momentum heading into 2026.
- Advisory revenue was $127 million with strong contributions from financials, industrials, and improving health care and technology sectors.
- Asset management revenues rose 6%, reflecting market appreciation and improved organic growth.
- Commissions and principal transactions rose 11% with gains in both Global Wealth and Institutional segments.
- Compensation ratio was 58%, consistent with the high end of full year guidance, and operating pretax margin was 20.3%.
- Equity capital raising totaled $46 million with a market shutdown for six weeks post-Liberation Day but recovery mid-May.
- Equity transactional revenue increased 16% year-over-year, and fixed income revenue rose 21% year-over-year.
- Fixed income underwriting revenue was $54 million, up 18% sequentially driven by public finance activity.
- Global Wealth Management posted its strongest second quarter ever with record client asset levels and higher net interest income.
- Institutional business revenue increased 7% year-over-year, with record fixed income revenue and a late quarter pickup in investment banking.
- Investment banking revenue totaled $233 million, exceeding guidance by over $20 million due to six transactions closing late in the quarter.
- Net interest income increased 8% due to higher interest earning assets and lower funding costs.
- Net interest income of $270 million came in at the high end of guidance with a 12 basis point increase in bank net interest margin.
- Non-compensation expenses increased 7% year-over-year, with severance and restructuring charges of $28 million in European operations.
- Operating EPS of $1.71 was up 7% from the prior year.
- Provision for income taxes was 25.4%, slightly above consensus due to nondeductible foreign losses.
- Stifel Financial delivered over $1.28 billion of net revenue and $1.71 in core EPS in Q2 2025, marking the best second quarter in company history with a return on tangible common equity of 22%.
- Tier 1 leverage capital ratio was 10.8%, and Tier 1 risk-based capital ratio was 17.5%, with approximately $315 million of excess capital.
- AvalonBay Communities reported second quarter and first half 2025 results exceeding initial guidance, driven by higher occupancy and rental revenue growth.
- Core FFO growth was 3.3% year-to-date, positioning the company towards the top of the sector.
- Development NOI for the year is expected to be modestly lower than budget due to timing delays in deliveries and slower leasing velocity at some communities.
- Development underway is $2.9 billion, match-funded, with yields on cost of 6.2% and currently running 30 basis points ahead of pro forma on communities in lease-up.
- Market occupancy was healthy in established regions at 94.8%, while Sunbelt region occupancy was lower at 89.5% due to elevated standing inventory.
- Operating expenses were tightly managed, contributing to same-store NOI outperformance with OpEx growth forecasted at 3.1%, 100 basis points better than original guidance.
- Q2 core FFO per share was $2.82 versus guidance of $2.77, with revenue exceeding by $0.02 and operating expenses better by $0.05, partially offset by lease-up NOI and overhead.
- Same-store NOI growth is now projected at 2.7%, 30 basis points above initial outlook.
- Adjusted net investment income was nearly $1.7 billion, up 8%, with a fixed income portfolio yield of 5.1% and new money rate averaging 5.4%.
- Annualized core operating return on tangible equity was 21%.
- Core operating EPS was a record $6.14, up 14% from a year ago, supported by record underwriting, strong investment results and good premium revenue growth.
- Core operating income of $2.5 billion was a record result, up 13%.
- Current accident year underwriting income, excluding cats, was up almost 11.5%, supported by a combined ratio of 82.3%, nearly a full point improvement from prior year.
- Global P&C premiums grew 5.8% and 6.4% in constant dollars, with commercial up 4.2% and consumer up 11.9%.
- International general insurance premiums were up 8.5% or over 10% in constant dollar, with Asia growing over 12.5%, Europe over 8%, and Latin America over 17%.
- Life division produced $305 million of pretax income, up about 10.5%.
- Life Insurance premiums grew almost 17.5%.
- North America P&C premiums, excluding agriculture, were up 5.3%, with personal insurance up 9.1% and commercial up 4.1%.
- Operating cash flow in the quarter was $3.2 billion.
- Pretax catastrophe losses were $630 million for the quarter, split 60% U.S. and 40% international.
- Pretax prior period development was favorable $319 million, mostly short tail commercial property-related lines and personal auto.
- Published underwriting income of $1.6 billion was up 15% from a year ago, leading to a combined ratio of 85.6%, more than 1 percentage point better than a year earlier.
- Renewal retention on a policy count basis was 86%.
- Tangible book value growth was up 23.7% per share from a year ago and 8% from the previous quarter.
Dafinchi