Dafinchi AI

Credit Acceptance Corporation

CACC

Financial Services

2w

Financial Performance Summary

Financed over 85,000 contracts and collected $1.4 billion overall during the quarter.
Forecasted net cash flows declined by 0.5% or $56 million.
Loan performance declined this quarter with 2022, 2023, and 2024 vintages underperforming expectations, while the 2025 vintage exceeded expectations.
Loan portfolio reached a record-high of $9.1 billion on an adjusted basis, up 6% from last Q2.
Market share in the core segment of used vehicles financed by subprime consumers was 5.4% for the first 5 months of the year, down from 6.6% in the same period in 2024.
Paid $63 million in dealer holdback and accelerated dealer holdback to dealers.
Unit and dollar volumes declined, impacted by Q3 2024 scorecard change and increased competition.

CADE

Financial Services

3w

Financial Performance Summary

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.

Eastern Bankshares, Inc.

EBC

Financial Services

3w

Financial Performance Summary

Allowance for loan losses increased to $232 million or 127 basis points of total loans.
Capital ratios remained strong with CET1 at 14.4% and TCE at 10.8%.
Deposits grew 8% annualized with stable deposit costs.
Deposits totaled $21.2 billion, increasing $424 million from prior quarter.
Loan growth was 8% annualized, driven by profitable organic growth and strategic hiring.
Loans increased by $385 million, led by commercial lending growth.
Net income was $100.2 million or $0.50 per diluted share, with operating earnings of $0.41 per diluted share.
Net interest income increased 7% from Q1 to $202 million ($206.8 million FTE).
Net interest margin expanded by 21 basis points to 3.59%.
Noninterest expense increased to $137 million due to higher operating expenses and merger-related costs.
Noninterest income was $42.9 million compared to a loss in Q1 due to investment portfolio repositioning.
Nonperforming loans improved to 30 basis points with no net charge-offs.
Operating earnings were $81.7 million, a 21% increase from the first quarter.
Operating efficiency ratio improved to 50.8% due to higher revenues and effective expense management.
Operating return on average assets increased by 21 basis points to 1.3%.
Operating return on average tangible equity rose from 11.7% to 13.6%.
Provision for loan losses was $7.6 million, up from $6.6 million.
Tangible book value per share increased 4% to $12.53.
Total assets reached $25.5 billion, up 2% from March 31.
Wealth management assets under management reached a record $8.7 billion.

WSFS Financial Corporation

WSFS

Financial Services

3w

Financial Performance Summary

Core fee revenue grew 9% quarter-over-quarter, led by wealth (17% YoY growth), capital markets, and mortgage businesses.
Core net interest margin expanded by 1 basis point to 3.89%, driven by a 9 basis point reduction in total funding costs and a deposit beta of 43%.
Gross loans were flat quarter-over-quarter, with strong commercial fundings, especially in C&I loans growing 2% linked quarter, and consumer residential mortgage and HELOCs growing 2% and 8% respectively.
Net credit costs were $14.3 million with net charge-offs at 30 basis points, half attributable to the Upstart sale; excluding Upstart, net charge-offs were 14 basis points.
Nonperforming assets declined to 51 basis points of total assets due to payoffs, despite a slight uptick in delinquencies that resolved in July.
Total client deposits increased 1% linked quarter and 5% year-over-year, with noninterest deposits growing 11% YoY to over 30% of total deposits.
WSFS reported core earnings per share of $1.27 for Q2 2025, with core return on assets at 1.3% and core return on tangible common equity at 18.03%, all improved from Q1.
WSFS returned $87.3 million in capital during Q2, including $77.7 million in share buybacks representing 2.7% of outstanding shares; year-to-date buybacks total 4.4% of shares.

Trustmark Corporation

TRMK

Financial Services

3w

Financial Performance Summary

Capital ratios increased: CET1 ratio up 7 basis points to 11.7%, total risk-based capital ratio up 5 basis points to 14.15%.
Credit quality improved with nonperforming assets declining 5.3% and net charge-offs at $4.1 million or 12 basis points of average loans.
Deposit base grew $35 million during the quarter with personal and commercial deposits totaling $13 billion, up 0.8% from prior quarter.
Loans held for investment increased $223 million or 1.7% linked quarter and $374.8 million or 2.9% year-to-date.
Net income was $55.8 million in Q2, with fully diluted EPS of $0.92, up 4.5% from prior quarter.
Net interest income expanded 4.3% to $161.4 million, with net interest margin increasing 6 basis points to 3.81%.
Noninterest expense increased 0.9% linked quarter, with lower salaries and equipment expense offset by higher professional fees.
Noninterest income was $39.9 million, unchanged linked quarter excluding gains/losses on bank facility sales.
Provision for credit losses was $4.7 million; allowance for credit losses was 1.25% of loans held for investment.
Quarterly cash dividend declared at $0.24 per share payable September 15.
Repurchased $11 million of common stock in the quarter, $26 million year-to-date, with $74 million remaining in repurchase authority.
Return on average assets was 1.21% and return on average tangible equity was 13.13%.
Tangible book value per share was $28.74, up 3.5% linked quarter and 13.9% year-over-year.

PFBC

Financial Services

3w

Financial Performance Summary

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.

Hanmi Financial Corporation

HAFC

Financial Services

3w

Financial Performance Summary

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.

Invesco Mortgage Capital Inc.

IVR

Financial Services

3w

Financial Performance Summary

Agency RMBS modestly outperformed treasury hedges but underperformed swap hedges due to tightening swap spreads.
Agency RMBS portfolio decreased 15% quarter-over-quarter due to risk management amid trade policy uncertainty.
Debt-to-equity ratio decreased from 7.1x at the end of March to 6.5x at the end of June.
Hedge notional declined from $4.5 billion to $4.3 billion, with hedge ratio increasing from 85% to 94%.
Levered gross ROEs on higher coupons are in the low 20s, representing an attractive entry point for mortgage investors.
Repurchase agreements collateralized by Agency RMBS and CMBS declined from $5.4 billion to $4.6 billion.
Swap spreads tightened significantly, negatively impacting book value during the quarter.
The $5.2 billion investment portfolio consisted of $4.3 billion in agency mortgages and $900 million in Agency CMBS.
The economic return for the quarter was negative 4.8%, consisting of a $0.34 dividend per common share and a $0.76 decline in book value per common share.

Capital One Financial Corporation

COF

Financial Services

3w

Financial Performance Summary

Adjusted net income was $2.8 billion with diluted EPS of $5.48, excluding acquisition-related adjustments and legal reserves.
Allowance for credit losses increased by $7.9 billion to $23.9 billion, driven mainly by Discover acquisition.
Allowance for credit losses increased by $7.9 billion to $23.9 billion, driven primarily by Discover acquisition marks and portfolio mix shifts.
Capital One reported a GAAP net loss of $4.3 billion or $8.58 per diluted share in Q2 2025, heavily impacted by the Discover acquisition and related purchase accounting adjustments.
Commercial banking loans increased 1% quarter-over-quarter; deposits declined slightly.
Commercial banking loans increased 1% quarter-over-quarter with stable deposits and modestly higher net charge-offs.
Common Equity Tier 1 capital ratio ended at 14%, up 40 basis points from prior quarter, with stress capital buffer requirement preliminarily at 4.5%.
Consumer banking loans and deposits grew 7% and 36% year-over-year respectively, driven by Discover and organic growth.
Credit Card segment showed 22% year-over-year purchase volume growth including Discover; excluding Discover, growth was about 6%.
Domestic card net charge-off rate improved to 5.25%, down 80 basis points year-over-year, influenced by Discover's lower loss profile.
Marketing expense increased 26% year-over-year to $1.35 billion, driven by domestic card marketing and Discover integration.
Net interest margin improved 69 basis points to 7.62%, with Discover contributing about 40 basis points.
Net interest margin improved 69 basis points to 7.62%, with Discover contributing approximately 40 basis points of the increase.
Noninterest expense increased 18% (14% net of adjustments) due to acquisition and integration costs.
Noninterest expense increased 18% (14% net of adjustments) with pre-provision earnings up 34% (40% net of adjustments) compared to Q1.
Pre-provision earnings rose 34% (40% net of adjustments) compared to Q1 2025.
Provision for credit losses was $11.4 billion including $8.8 billion initial allowance build for Discover; excluding this, provision was $2.7 billion, up $294 million sequentially.
Provision for credit losses was $11.4 billion including $8.8 billion related to Discover's loan portfolio; excluding this, provision was $2.7 billion, up $294 million sequentially.
Revenue increased 25% quarter-over-quarter to $2.5 billion higher, driven largely by Discover's partial quarter contribution.