- Asset quality remained strong despite one commercial borrower filing for bankruptcy, with past due loans at eight basis points, net charge-offs at two basis points, and non-performing loans at 37 basis points.
- Camden National Corporation reported strong second quarter 2025 earnings of $14.1 million, with diluted earnings per share of $0.83 and adjusted non-GAAP earnings of $15.2 million or $0.89 per share.
- Loan growth was 1% during the quarter, primarily from commercial and home equity loans, with a robust $150 million committed loan pipeline, a 40% increase over last quarter.
- Net interest margin expanded by two basis points to 3.06%, and the non-GAAP efficiency ratio improved to 55.5%, the lowest since 2022.
- Noninterest income reached $13.1 million, beating prior guidance, while noninterest expense was $37.6 million, 15% lower than the first quarter.
- Pretax pre-provision income excluding one-time merger-related expenses rose 13% from the prior quarter, reflecting early success in realizing cost synergies from the Northway acquisition.
- Tangible common equity ratio increased to 6.77%, with tangible book value per share rising 3% to $26.9.
- Total revenues grew 4% over the prior quarter to $62.3 million, driven by net interest income and noninterest income growth.
Explore Similar Insights
- Adjusted net debt to annualized adjusted EBITDAre was 4.6x, down from 4.7x last quarter and within the targeted leverage range of 4.5 to 5.5x.
- Adjusted net debt was $713.8 million with a weighted average debt maturity of 3.8 years and weighted average interest rate of 4.58%.
- Core FFO was $25.6 million or $0.31 per diluted share and AFFO was $27.5 million or $0.33 per diluted share, a 3.1% increase year-over-year.
- NETSTREIT reported net income of $3.3 million or $0.04 per diluted share for Q2 2025.
- Total liquidity at quarter end was $594 million, including $20 million cash, $373 million available on revolving credit, and $202 million unsettled forward equity.
- Total recurring G&A increased to $5.4 million but represented 11% of total revenues, down from 12% the prior year.
- Brokered funding was reduced by approximately $127 million, improving liquidity.
- Core deposit balances increased by approximately $195 million in the quarter, driven in part by a municipal bond offering.
- Loan balances decreased slightly to just under $3 billion due to payoffs and refinancing, but new loans were originated at higher interest rates.
- Net interest income and overall earnings improved compared to prior periods.
- No provision for credit losses was recorded due to strong credit quality.
- The loan portfolio yield improved to 5.59% in Q2 from 5.52% in Q1, partially offset by a 4 basis point increase in deposit costs.
- West Bancorporation reported net income of $8 million in Q2 2035, up from $7.8 million in Q1 2035 and $5.2 million in Q2 2024.
- Average loans decreased 1% to $17.7 billion due to macroeconomic challenges and elevated gross credit losses impacting loan growth.
- Bread Financial reported adjusted net income of $149 million and adjusted EPS of $3.15 for Q2 2025, excluding $10 million post-tax debt repurchase expenses.
- Credit reserve rate improved to 11.9%, a 30 basis point improvement year-over-year and sequentially.
- Credit sales grew 4% year-over-year to $6.8 billion, driven by new partner growth and higher general purpose spending.
- Delinquency rate improved to 5.7%, down 30 basis points year-over-year; net loss rate improved to 7.9%, down 70 basis points year-over-year despite hurricane impacts.
- Direct-to-consumer deposits grew 12% year-over-year to $8.1 billion, accounting for 45% of average total funding, improving funding mix.
- Net interest income decreased 1% year-over-year due to lower billed late fees and a shift in risk and product mix, partially offset by lower interest expense and pricing changes.
- Net interest margin was 17.7%, down 30 basis points year-over-year, impacted by elevated cash mix and lower loan yields.
- Noninterest income increased $3 million, mainly from paper statement pricing changes, offset by lower net interchange revenue.
- Return on average tangible common equity was 22.7% for the quarter.
- Revenue was $929 million, down 1% year-over-year, primarily due to lower finance charges and late fees, partially offset by lower interest expense.
- Total noninterest expenses increased 3% year-over-year to $12 million higher, mainly due to $13 million debt extinguishment costs; adjusted expenses were nearly flat.
- Adjusted EPS was $4.51, a 16% increase year-over-year.
- Client cash revenue was $414 million, up $5 million from Q1; client cash balances ended at $51 billion, down $2 billion sequentially.
- Commission and advisory fees net of payout were $349 million, down $14 million from Q1.
- Core G&A expenses were $426 million, below outlook range; full year 2025 outlook lowered to $1.720 billion to $1.750 billion excluding deals.
- Corporate cash ended Q2 at $3.6 billion, up $3 billion from Q1 due to capital raises; expected to decrease post-Commonwealth close.
- Depreciation and amortization were $96 million, up $4 million sequentially; expected to increase by $5 million in Q3.
- Gross profit was $1.304 billion, up $32 million sequentially.
- ICA yield was 342 basis points, up 5 basis points from Q1; expected to be flat in Q3.
- Including Commonwealth, new core G&A outlook is $1.880 billion to $1.920 billion.
- Interest expense was $102 million, up $22 million sequentially due to April debt issuance; expected to increase by $5 million in Q3.
- Leverage ratio was 1.23x at end of Q2; expected to be 2.25x post-close with a path to 2x by end of 2026.
- Organic net new assets were $21 billion, representing a 5% annualized growth rate.
- Payout rate was 87.3%, up approximately 60 basis points from Q1, with an expected increase to 87.6% in Q3.
- Promotional expense was $164 million, up $12 million from Q1; expected to increase by $35 million in Q3.
- Service and fee revenue was $152 million, up $7 million from Q1; expected to increase by $20 million in Q3.
- Tax rate was approximately 26% in Q2; expected around 27% in Q3.
- Total assets increased to a record $1.9 trillion in Q2, driven by solid organic growth and higher equity markets.
- Transaction revenue was $61 million, down $7 million sequentially; expected to increase by $5 million in Q3.
Dafinchi