- 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.
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- Annaly delivered an economic return of 0.7% for Q2 2025, marking the seventh consecutive quarter of positive economic returns.
- Book value per share decreased 3% quarter-over-quarter to $18.45 after accounting for dividends.
- Earnings available for distribution (EAD) per share increased by $0.01 to $0.73, exceeding the dividend of $0.70 for the quarter.
- Higher yields on the investment portfolio at 5.41% compared to 5.23% in the prior quarter contributed to results.
- Lower average repo rates of 4.53% during the quarter, a modest decline of 3 basis points, partially offset gains.
- Net interest spread excluding PAA increased to 1.47% in Q2 from 1.24% a year ago; net interest margin ex PAA rose to 1.71% from 1.58%.
- Residential credit business generated additional income due to growth in accretive OBX securitizations and record issuance activity.
- Total facility capacity for residential credit was $4.2 billion with 40% utilization; MSR business had $2.1 billion capacity with 50% utilization.
- Unencumbered assets ended Q2 at approximately $6 billion, including $4.7 billion in unencumbered Agency MBS.
- Year-to-date economic return reached 3.7% with total shareholder return over 10% through quarter end.
- Adjusted EBITDA reached a record $126 million, up 63% from $77 million a year ago.
- Commissions and related expenses as a percentage of revenue improved by 80 basis points to 81.84%.
- Compass delivered all-time high revenue of $2.06 billion in Q2 2025, a 21.1% year-over-year increase.
- Free cash flow hit a record $68 million, improving from $40.4 million in Q2 2024 despite a $28.75 million class action settlement payment.
- GAAP net income was $39.4 million, a 90% increase from $20.7 million in the prior year quarter.
- Market share rose to 6.09%, up 96 basis points year-over-year and 8 basis points sequentially.
- Non-GAAP operating expenses increased to $250 million, driven by acquisitions including Christie's International Real Estate.
- Total transactions increased 20.9% year-over-year, with organic transactions up 6.3%, outperforming the market decline of 0.9%.
- 95% of transactions in the quarter came from repeat borrowers, indicating strong customer retention.
- Affirm set new records in most key metrics during fiscal Q4 2025, an unusual achievement for a non-peak quarter.
- Funding capacity increased roughly 55% year-over-year with utilization significantly down, reflecting a favorable capital market environment.
- Growth is accelerating with strong momentum in U.S. and Canadian consumer originations and repayments.
- Monthly 0% APR loans grew north of 90% year-over-year, showing strong adoption of promotional financing.
- Revenue less transaction cost (RLTC) take rate is expected to remain stable in the 3% to 4% range, with guidance at the high end.
- The Affirm Card volume reached $1.2 billion with a 10% attach rate and a tripling of 0% volume on the card.
- 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.
- Alight reported a 2% decrease in revenue to $528 million and a net loss of $1 billion, including a $983 million goodwill impairment, but adjusted EBITDA increased 21% to $127 million, surpassing estimates.
- Cannae had net recognized losses of $76 million in Q2 2025, mainly due to Alight's impairment charge, compared to $146 million losses in the prior year quarter.
- Cannae Holdings reported a 6.6% decrease in total operating revenue to $110 million in Q2 2025, primarily due to reduced restaurant revenue and diminished lot sales at Brasada Resort.
- Ninety Nine Restaurant & Pub's same-store sales declined less than 1%, outperforming the casual dining segment, while O'Charley's faced double-digit declines in same-store sales and guest counts.
- Watkins delivered mid-single-digit growth in net sales and high single-digit growth in EBITDA in H1 2025, with expected adjusted EBITDA of $20 million for 2025.
- Adjusted EBITDA from continuing operations was a loss of $5 million, down from a sub $1 million loss in Q2 2024, impacted by increased intangible amortization and interest expense related to the Beat acquisition.
- Ambac reported a net loss from continuing operations of $21 million or $0.45 per share in Q2 2025, compared to a loss of $15 million or $0.33 per share in Q2 2024.
- Everspan's net earned premiums declined 41% to $16 million, but loss ratio improved to 67.8% from 85.1%, and adjusted EBITDA improved by $1.7 million to $0.7 million.
- Insurance Distribution revenues rose 148% to $33 million, with adjusted EBITDA on an operating basis of $5 million at a 13.9% margin.
- Total revenues increased 8% to $55 million, driven by Insurance Distribution segment growth, while Everspan premiums declined due to underwriting repositioning.
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